My IFA says he needs my Elephant and Castle lawyer’ panel reference for the Nationwide conveyancing panel. What is the best way to obtain this. I have contacted my local Elephant and Castle branch but they have not responded to me.
Have you tried contacting your Elephant and Castle conveyancing practitioner about this?. Most Elephant and Castle law firms will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
All was ready to complete my purchase in Elephant and Castle next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor 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?
All property lawyers on acting for lenders 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 Part 2 instructions. These obligations are not limited to conveyancing in Elephant and Castle.
My Solicitor in Elephant and Castle is not listed on the The Mortgage Works Approved Panel. Can I still retain my family solicitor even though they are excluded from the The Mortgage Works panel?
The limited options available to you here include:
- Complete the purchase with your preferred Elephant and Castle lawyers but The Mortgage Works will need to instruct a conveyancer on their list of acceptable firms. This will result in additional total conveyancing fees as well as cause delays.
- Get a new practitioner to act in the conveyancing, obviously checking they are on the The Mortgage Works panel
About to purchase a new build apartment in Elephant and Castle. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Elephant and Castle
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
We are 14 days into a leasehold purchase having been referred to solicitors by the selling agent to do our conveyancing in Elephant and Castle. We are not happy. Can you you assist me in finding new solicitors?
A conveyancer would need to be really poor to suggest changing them. Has the loan offer been generated? If so you need to make them aware of the new contact details and ensure the mortgage documents are re-issued. Your new solicitor ideally needs to be on the lenders approved list to avoid escalating costs and delays. So that should be your first question of the new lawyers. The find a solicitor tool should assist you in finding a bank approved solicitor for your home move in Elephant and Castle
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable price which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Elephant and Castle. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Elephant and Castle ?
Most houses in Elephant and Castle are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Elephant and Castle so you should seriously consider looking for a Elephant and Castle conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. First you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer should appraise you on the various issues.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Elephant and Castle conveyancing firm to represent me?
Absolutely. We are happy to put you in touch with a Elephant and Castle conveyancing firm who can help.
An example of a Lease Extension decision for a Elephant and Castle flat is Ground Floor Flat 39 Bronsart Road in May 2010. Following a vesting order by West London County Court the Leasehold Valuation Tribunal concluded that the price to be paid for the extended lease of the premises was Thirteen Thousand Two hundred pounds (£13,200) in accordance with the valuation. The extended lease was granted for a term of 90 years from the expiry date of the Lease and at a peppercorn ground rent from the date of the vesting order. This case related to 1 flat. The remaining number of years on the lease was 74.77 years.