We are planning to purchase a 1 bedroom apartment in Erith with a mortgage. We have a Erith conveyancer, but the bank says he's not on their "panel". It seems we have no choice but to select one of the lender panel solicitors or retain our Erith property lawyer as well as pay for one of their panel lawyers to represent them. We regard this is unjust; can we not require that the bank use our Erith property lawyer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Erith conveyancing lawyer to apply to be on the conveyancing panel.
My wife and I are nearing an exchange on a house in Erith and my mum and dad have sent the ten percent deposit to my conveyancer. I am now advised that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my mortgage company. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I advised the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
The conveyancer is duty bound to clarify with the bank to make sure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
My stepmother informed me that in buying a property in Erith there could be various restrictions affecting the ability to carry out external changes to a property. Is this right?
There are a number of properties in Erith which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Erith should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
is it true that all Erith solicitor firms on the Lloyds conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Lloyds approved list of solicitors they would need to be overseen by the SRA. The majority of banks do allow licenced conveyancers on their panel and in such a situation the organisation would be overseen by the CLC.
My wife and I have arranged a further advance on our mortgage from Virgin Money as we wish to carry out improvements to our home in Erith. Do we need to appoint a high street Erith solicitor on the Virgin Money conveyancing panel to deal with the paperwork?
Virgin Money do not ordinarily require firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Virgin Money list.
Do commercial conveyancing searches disclose impending roadworks that may affect a commercial estate in Erith?
Many commercial conveyancing solicitors in Erith will perform a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Erith. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Erith.
For each commercial conveyancing transaction in Erith it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can result in delays to Erith commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Erith.
I am buying a new build flat in Erith. 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 conveyancing.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Erith
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are surveyor prepared. 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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I'm converting the mortgage on my existing home to a buy to let loan with Bank of Scotland and intend to use the remaining equity as a down payment on a second property. The area we are looking at is Erith. Will your lawyers be able to act for both sets of lenders and link together the transactions?
Make use of our search tool on this page to ensure that the solicitors are on the relevant lender panels. Having checked that they are your lawyer should be able to connect the two conveyancing matters but you should talk with you lawyer and make apparent your desired outcome and needs.