My wife and I are acquiring an apartment in Charlton. My lawyer is not listed on the mortgage company approved panel. Can I still continue with my Charlton conveyancing solicitor notwithstanding that they are excluded from the lender list of approved lawyers?
Your options include
- Carry on with your preferred Charlton conveyancer but your bank will no doubt retain a conveyancer on their conveyancing panel. This will result in additional charges and probable delay.
- Get a fresh conveyancing practitioner to act in the purchase, making sure they are on the lender conveyancing panel.
- Convince your conveyancing practitioner to attempt to join the mortgage company panel
Due to move into my new home in Charlton next Friday. My property lawyer now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What risks does the mortgage company expect the insurance to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These obligations are not unique to conveyancing in Charlton.
My wife and I have recently appointed a conveyancing solicitor in Charlton. I need to find out if they are accepted on the Barnsley Building Society approved list of lawyers. Can you advise?
The first thing to do is call your lawyer and enquire whether they are on the lender panel. Otherwise you should get in touch with Barnsley Building Society who may be able to help.
Will my conveyancer be asking questions about flooding during the conveyancing in Charlton.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Charlton. Plenty of people will buy a house in Charlton, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, but there are a number of checks that may be undertaken by the purchaser or by their conveyancers which can give them a better understanding of the risks in Charlton. The conventional set of property information forms given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the vendor to discover if the property has ever been flooded. If flooding has previously occurred and is not revealed by the vendor, then a purchaser could issue a compensation claim stemming from an misleading answer. A buyer’s solicitors may also commission an enviro search. This should reveal if there is any known flood risk. If so, further investigations will need to be conducted.
I have been on the look out for a ground for flat up to £235,500 and found one round the corner in Charlton I like with open areas and railway links nearby, however it's only got 52 years unexpired on the lease. There is not much else in Charlton suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan that many years may be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
How up-to-date is your database of lawyers on the mortgage company conveyancing panel in Charlton? Do the lenders send you an updated list?
Charlton law firm practices and firms conducting conveyancing in Charlton themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the lender directly.