My fiance and I are planning to purchase a home in Dulwich and are in fact using a Dulwich conveyancing practice. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Norwich and Peterborough Building Society have this afternoon contacted us to advise us that they have now hit a problem as our Dulwich conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors 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 Accreditation Scheme. Your solicitor should contact your bank 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Dulwich lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
I am buying a property and require a conveyancing solicitor in Dulwich who is on the Norwich and Peterborough Building Society approved. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Norwich and Peterborough Building Society in certain locations such as Dulwich. We dont recommend any particular firm.
Can I be sure that the Dulwich conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Dulwich seeking recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the solicitor carrying out your conveyancing.
We were going to get a AIP from Aldermore this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Aldermore recommend any Dulwich solicitors on the Aldermore conveyancing panel, or is it better to go independently?
You will need to appoint Dulwich solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
Our sealed bid on a semi in Dulwich has been agreed to, but there is a chain. The vendors have offered on a property, however it’s not yet tied up, and are looking at other apartments in the pipeline. I have selected a local conveyancing solicitor in Dulwich. What should be my next step? At what point do I apply for the mortgage with Co-operative?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is approx £1k, then valuation, Dulwich conveyancing search fees, etc). The first course of action is to check that your conveyancer is on the Co-operative approved list. Concerning the next steps this very much depends on the uniqueness of your transaction, motivation for the property and on the state of the market. During a rising market some buyers will apply for a home loan with Co-operative and arrange for the valuation and only if it comes back ok would they request their solicitor to proceed with the conveyancing in Dulwich.
I am looking for a flat up to £245,000 and identified one close by in Dulwich I like with amenity areas and station nearby, the downside is that it only has 49 remaining years left on the lease. There is not much else in Dulwich suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term will be problematic. Reduce the offer by the amount the 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 could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
Is it best to appoint a Dulwich conveyancing practitioner in close proximity to the house I am purchasing? An old friend can deal with the legal work however his firm is located 200kilometers away.
The benefit of a high street Dulwich conveyancing practice is that you can drop in to execute documents, deliver your ID and apply pressure on them where appropriate. Having local Dulwich know how is a plus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and they were happy that should outweigh using an unknown Dulwich conveyancing solicitor just because they are round the corner.
Do you have any top tips for leasehold conveyancing in Dulwich with the purpose of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Dulwich can be bypassed if you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the purchasers’ solicitors. The majority of landlords or Management Companies in Dulwich levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Dulwich. If you hold a share in a the freehold, you should ensure that you have the original share document. Organising a re-issued share certificate is often a time consuming process and slows down many a Dulwich home move. Where a new share certificate is needed, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity. You may think that you are aware of the number of years left on your lease but it would be advisable double-check by asking your solicitors. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is below 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you have had any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over as opposed to ongoing.
Having spent years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Dulwich. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We can put you in touch with a Dulwich conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Dulwich residence is 60 Taymount Grange Taymount Rise in June 2012. The Tribunal determined the premium at £13,346 for a lease extension of a further 90 years This case related to 1 flat. The unexpired term was 64 years.