Am I correct in assuming that the fact that my conveyancer in Brockley is not identified on my mortgage company's solicitor panel that there is a problem with the standard of her work?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Brockley conveyancing practice and enquire why they are no longer on the approved list for your lender.
The vendors of the house we are purchasing have instructed a conveyancing practitioner in Brockley who has suggested a preliminary contract with a non-refundable deposit of 5k. Are such agreements sensible?
Lock out contracts are contracts between a home seller and prospective acquirer granting the buyer the sole right to purchase the premises within a prescribed time frame. For all intents and purposes, a lock out is a document stating that you will receive a contract at a later date which is the contract for the actual sale. It is generally used for buyer assurance though in many situations, the owner may stand to benefit from such agreements as well. There are various pros and cons to having them but you need to check with your conveyancer but beware that it may result in costing you more in conveyancing fees. For this these agreements are unusual when it comes to conveyancing in Brockley.
At what point will exchange of contracts happen for residential conveyancing in Brockley and am I required to attend the conveyancers office?
If you are in close proximity to our conveyancing solicitors in Brockley you are welcome to come in to sign the paperwork. However, the lender approved solicitors we work with supply a national conveyancing service and give just as diligent and professional a job for you when communicating with you digitally. The signing of the sale agreement is not the point of no return. Signing on the dotted line simply enables the solicitor to address the formalities at the suitable time, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Brockley)to be in the office available at the end of the phone to exchange contracts.
I am selling my apartment in Brockley. Does my solicitor need to be on the Bank of Ireland conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Bank of Ireland conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently at the moment.
I am buying a new build flat in Brockley. 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 legal work.
Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Brockley
-
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants.
I decided to have a survey carried out on a property in Brockley ahead of retaining conveyancers. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some banks will not give a loan on this type of property.
It varies from the lender to lender. HSBC has different instructions from Nationwide. Should you wish to telephone us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Brockley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Brockley to see if the conveyancing will be more expensive.