Is the fact that my conveyancer in Erith is not on my lender's solicitor panel that there is a problem with the standard of his conveyancing?
That would more than likely be an incorrect assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Erith conveyancing practice and ask them why they are no longer on the approved list for your bank.
Can the conveyancing lawyers listed on your site handle auction conveyancing in Erith?
We know of a number of auction lawyers we can connect you with those specialising in auction conveyancing. Erith is one of the many areas of in which our lawyers are based.
My fiance and I are buying a newly converted apartment in Erith with a homeloan from Yorkshire Building Society.We have a Erith conveyancing lawyer but Yorkshire Building Society advised that he's not listed on their "panel". We have to appoint a Yorkshire Building Society panel lawyer or retain our preferred solicitor and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, a common one being that lawyers will be on the Yorkshire Building Society approved list. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for Yorkshire Building Society
Are there restrictive covenants that are commonly identified as part of conveyancing in Erith?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Erith. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am purchasing my first flat in Erith with a loan from National Westminster Bank. The developers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The house builders rep suggested that I not inform my conveyancer about the deal as it would put at risk my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have given up trying to purchase the freehold in Erith. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a missing freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to determine the amount due.
An example of a Lease Extension matter before the tribunal for a Erith premises is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The number of years remaining on the existing lease(s) was 76 years.
What makes a Erith lease defective?
Leasehold conveyancing in Erith is not unique. All leases are drafted differently and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
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Clauses dealing with recovering service charges for expenditure on the building or common parts. Repairing obligations to or maintain parts of the building
You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Coventry Building Society, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the purchaser to pull out.