Me and my fiance are purchasing a 3 bedroom flat in Thornton Heath with a mortgage. We have a Thornton Heath solicitor, however the mortgage company advise she’s not on their "panel". It appears that we have no option but to instruct one of the bank panel conveyancing practices or keep our Thornton Heath conveyancing practitioner as well as pay for one of their panel ones to act for them. We regard this is inequitable; can we not demand that the lender use our Thornton Heath conveyancing practitioner ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Thornton Heath conveyancing solicitor to apply to be on the conveyancing panel.
It is a dozen years since I purchased my house in Thornton Heath. Conveyancing solicitors have just been instructed on the sale but I am unable to find my deeds. Will this cause complications?
Don’t worry too much. Firstly the deeds may be retained by the mortgage company or they may be in the possession of the solicitor who handled the purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors obtaining up to date copy of the land registers. Almost all conveyancing in Thornton Heath involves registered property but in the rare situation where your property is not registered it is more tricky but is not insurmountable.
Should commercial conveyancing searches disclose impending roadworks that may affect a commercial land in Thornton Heath?
Many commercial conveyancing solicitors in Thornton Heath will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Thornton Heath. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Thornton Heath.
For each commercial conveyancing transaction in Thornton Heath it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can cause delays to Thornton Heath commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Thornton Heath.
How does conveyancing in Thornton Heath differ for new build properties?
Most buyers of new build or newly converted property in Thornton Heath contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is finished. This is because new home sellers in Thornton Heath tend to buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Thornton Heath or who has acted in the same development.
I've found a house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a leasehold house in Thornton Heath. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Thornton Heath ?
Most houses in Thornton Heath are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Thornton Heath in which case you should be shopping around for a Thornton Heath conveyancing practitioner and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your solicitor will report to you on the legal implications.
After months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Thornton Heath. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the LVT to determine the price payable.
An example of a Lease Extension case for a Thornton Heath property is Ground Floor Flat 14 Lodge Road in October 2013. the tribunal held that the price payable for the acquisition of the extended lease of the property should be £12,590 .00 This case related to 1 flat. The unexpired term as at the valuation date was 69.46 years.
My lender have just issued us with a mortgage offer. We appointed a local conveyancer in Thornton Heath two days ago. A couple of hours ago, our financial adviser phoned to advise us that the mortgage company said that we cannot use our solicitor as they aren't on their panel. As novices, we did not have a clue that the bank had some control over our choice Is this legal?
You are permitted to appoint any conveyancing solicitor you want to use for your conveyancing in Thornton Heath but if your bank aren't happy with them you would have to fork out additional cost so your bank can retain their own solicitors as well to protect their interest. It may be conceivable that your solicitor may apply to get included on to the bank panel. You can use web-based tools including lenderpanel.com to find a conveyancing solcitor in Thornton Heath on the lender panel. You can go into your high street lender branch in Thornton Heath. They will know some good conveyancing solicitors in Thornton Heath on the bank panel.