Please help. My Walworth lawyer is informing me me that he has toorder Walworth conveyancing searches asthe firm are on the HSBCapproved lawyer panel. These Walworth checks cost a lot of money can this be avoided?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a bank your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Walworth conveyancing searches.
Me and my partner are buying a apartment in Walworth. I might seem paranoid but how we can trust a lawyer? At some point we have to send money into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am currently in the process of buying my council flat in Walworth. I have a mortgage offer with Co-operative. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Co-operative, you will need to appoint a solicitor on the Co-operative conveyancing panel.
It is not clear whether my bank requires a lease extension. I have called into my local Walworth bank branch on numerous occasions and was advised it wasn't a problem and they will lend. My Walworth conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend in accordance with their published requirements. Who do I believe?
Provided that the solicitor is on the bank panel, she or he must follow the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
My colleague recommended that if I am purchasing in Walworth I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your Walworth conveyancing searches. It is not a small document of about 40 pages, listing and detailing significant information about Walworth around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data concerning Walworth.
I'm buying a new build house in Walworth with a mortgage from Lloyds TSB Bank. The builders refused to move on the amount so I negotiated 6k of extras instead. The house builders rep suggested that I not inform my lawyer about this side-deal as it will put at risk my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one round the corner in Walworth I like with open areas and transport links in the vicinity, however it's only got 61 years unexpired on the lease. There is not much else in Walworth suitable, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan that many years will likely be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
What can I do where I am unhappy with the conveyancer who undertook our conveyancing in Walworth?
We live in an imperfect world, and is is a fact of life that sometimes matters do not go as planned. However there is recourse where you were dissatisfied with your conveyancing in Walworth. This varies from trying to resolve matters directly with them, through to reporting a lawyer to their regulator. If you remain unhappy you may consider enlisting the help of the Legal Ombudsman.