My husband and I are looking to purchase a house in Catford and are in fact using a Catford conveyancing practice. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Leeds Building Society have this evening contacted us to inform me that there is now an issue as our Catford lawyer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Catford solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
The deeds to my house can not be found. The conveyancers who handled the conveyancing in Catford 4 years ago are no longer around. What do I do?
These day there are duplicates made of almost everything, and your conveyancer should be aware precisely where to find all the relevant documentation so you can purchase or dispose of your property without any difficulty. If copies can’t be located, your conveyancer can arrange cover in the form of insurance or indemnities against future claims on your premises.
I am buying a new build apartment in Catford. Conveyancing is a frightening process 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 few leasehold new build questions that you can expect your new-build leasehold conveyancing in Catford
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
Due to the advice of my in-laws I had a survey completed on a property in Catford ahead of instructing solicitors. I have been advised that there is a flying freehold aspect to the property. My surveyor has said that some banks tend refuse to give a loan on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Catford. Conveyancing may be slightly more expensive based on your lender's requirements.
How simple is it to use the search facility to choose a conveyancing lawyer in Catford on the authorised to act for my lender?
1st choose a bank such as Halifax, Barnsley Building Society or Bank of Ireland then choose your preferred area for instance Catford. Conveyancing practices in Catford and beyond will then be identified.
I am a negotiator for a reputable estate agent office in Catford where we see a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Catford conveyancing solicitors. Could you confirm whether the owner of a flat can start the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the leaseholder of a ground floor flat in Catford. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a Catford conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Catford property is 44 Elmer Road in January 2013. The Tribunal dacied that amount to be paid by the Leaseholders for the Landlords freehold reversion was £12,951 as at the valuation date (20" September 2012).This matter was referred back to the Bromley County Court to deal with costs, fees and any other outstanding matters. This case affected 2 flats. The unexpired lease term was 74.25 years.