Me and my fiance are purchasing a 2 bedroom apartment in Battersea with a mortgage. We have a Battersea conveyancer, but the mortgage company advise she’s not on their "panel". We have to appoint one of the bank panel solicitors or continue with our Battersea conveyancing practitioner as well as pay for one of their panel firms to represent them. We feel that this is unjust; are we not able to require that the bank use our Battersea lawyer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. Another option that might be available is for your Battersea conveyancing lawyer to apply to be on the conveyancing panel.
I am remortgaging my flat in Battersea, does my lawyer need to be on the UBS Solicitor panel?
In theory, you could use a solicitor that is not on the UBS conveyancing panel, but UBS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I am the sole recipient of my late grandmother’s will and I have everything in my name now, including the house in Battersea. The Battersea property was put into my name in May. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship may be considered the same way as though I had purchased the house in May. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How practical a view mortgage companies take of it, depend on the bank as this obligation is primarily there to capture the purchase and immediately sell or the wholesaling and assigning of property.
is it true that all Battersea conveyancing solicitors on the Leeds Building Society conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Leeds Building Society approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Many lenders do permit licenced conveyancers on their panel in which case such firms would be governed by the CLC.
My offer on a house in Battersea has been accepted, the sellers do nevertheless have a dependent purchase. The sellers have placed an offer on a property, however it’s not been accepted yet, and have viewings of other properties booked. I have chosen a bricks and mortar conveyancing solicitor in Battersea. What do I do now? At what point do I apply for the mortgage with Aldermore?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur costs too early (mortgage application is approx one thousand pounds, then survey, Battersea conveyancing search costs, etc). The first course of action is to check that your lawyer is on the Aldermore conveyancing panel. Regarding the next stages this very much dictated by the circumstances of your transaction, desire for the property and on the state of the market. In a hot market many home buyers will apply for the mortgage with Aldermore and arrange for the valuation and only if it comes back ok would they ask their conveyancing practitioner to proceed with searches.
Just had an offer accepted on a new build apartment in Battersea. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Battersea
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please confirm the Lease plans are surveyor prepared. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Over the last few months I have been searching for a flat up to £305k and identified one round the corner in Battersea I like with amenity areas and transport links in the vicinity, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Battersea suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
We expect to complete our sale of a £225,000 flat in Battersea in just under a week. The freeholder has quoted £336 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Battersea?
Battersea conveyancing on leasehold apartments often requires the buyer’s lawyer submitting enquiries for the landlord to address. Although the landlord is under no legal obligation to address such questions most will be willing to do so. They are at liberty to invoice a reasonable charge for responding to enquiries or supplying documentation. There is no set fee. The average fee for the information that you are referring to is £350, in some transactions it is above £800. The administration charge demanded by the landlord must be sent together with a summary of entitlements and obligations in relation to administration charges, without which the charge is not strictly payable. Reality however dictates that you have little option but to pay whatever is demanded if you want to exchange contracts with the buyer.
I am the registered owner of a second floor flat in Battersea. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to decide the premium.
An example of a Lease Extension matter before the tribunal for a Battersea property is 150A Albert Palace Mansions Lurline Gardens in July 2013. The Tribunal determined that the premium payable for the new lease of the subject property was £42,069 This case related to 1 flat. The number of years remaining on the existing lease(s) was 57.06 years.