Me and my partner are purchasing a 2 bedroom flat in Crystal Palace with a mortgage. We would like to retain our Crystal Palace conveyancer, however the bank says he's not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or continue with our Crystal Palace conveyancing practitioner and pay for one of their panel firms to represent them. We feel that this is unjust; is there anything we can do?
No, not really. The mortgage offered to you 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. A further alternative is for your Crystal Palace conveyancing lawyer to apply to be on the conveyancing panel.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Crystal Palace?
There are many recorded licenced Conveyancers in Crystal Palace and Solicitor firms in Crystal Palace offering conveyancing It is important to make clear that both are regulated professionals specialising in the legal work in the home buying process. They may both also deal with associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I am assisting my mother sell her flat in Crystal Palace. Will the conveyancer commission an EPC or do I organise this?
After the abolition of Home Information Packs, EPC’s was kept a compulsory part of moving property. An EPC must be to hand before the property is put on the market. This is not a task that solicitors ordinarily arrange. Where you are instructing a Crystal Palace conveyancing lawyer they may be willing to arrange EPC’s due to their contacts with reputable Crystal Palace assessors
The formalities of my remortgage has taken place for my property in Crystal Palace. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
3 months have elapsed following my purchase conveyancing in Crystal Palace concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a ground for flat up to £235,500 and identified one near me in Crystal Palace I like with a park and transport links nearby, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Crystal Palace in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
I am using a search engine for the term on line conveyancing in Crystal Palace it brings up many property lawyersin the area. With so much choice what is the best way to find the right conveyancing solicitor for purchase transaction?
The best method of finding the right conveyancer is through a personal referral, so enquire of colleagues and those you trust who have bought a property in Crystal Palace or a local estate agent or mortgage broker. Fees for conveyancing in Crystal Palace differ, so it's advisable to obtain a minimum of four fee estimates from varying types of property lawyers. Dont forget to clarify that the fees are fixed.
Our lawyer in Crystal Palace has uncovered a defect with the lease for the flat we are buying in Crystal Palace. The other side have offered defective title insurance as a solution. We are content with insurance and will pay for it. Our lawyer says that as he is on the mortgage company conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. A precondition to being on the bank approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.