We are buying a 1 bedroom flat in Greenwich with a mortgage. We have a Greenwich solicitor, however the bank advise he's not on their "panel". It seems we have no option but to select one of the mortgage company panel firms or continue with our Greenwich conveyancing practitioner as well as pay for one of their panel ones to act for them. We regard this is unjust; can we not require that the bank use our Greenwich conveyancer ?
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 Greenwich conveyancing solicitor to apply to be on the conveyancing panel.
Last August we completed a house move in Greenwich. We have noticed several issues with the property which we believe were omitted in the conveyancing searches. What action can we take? What searches should? have been conducted for conveyancing in Greenwich?
The query is vague as what problems have arisen and if they are unique to conveyancing in Greenwich. Conveyancing searches and due diligence initiated as part of the legal transfer of property are carried out to help avoid problems. As part of the legal transfer of property, a property owner answers a questionnaire called a Seller’s Property Information Form. If the information turns out to be misleading, then you may have a claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Greenwich.
My wife and I have recently appointed a conveyancing solicitor in Greenwich. I need to find out whether they are on the Godiva Mortgages Ltd approved list of lawyers. Can you or the lender confirm if they are on the panel?
You should phone your solicitor and enquire if they are on the lender panel. Otherwise you can get in touch with Godiva Mortgages Ltd who may be able to help.
How does conveyancing in Greenwich differ for newly converted properties?
Most buyers of new build property in Greenwich contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because house builders in Greenwich tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Greenwich or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one near me in Greenwich I like with a park and transport links in the vicinity, however it only has 52 remaining years left on the lease. I can't really find anything else in Greenwich for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan that many years will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you may 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 and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I see that you have a search directory listing solicitors on the bank conveyancing panel. Do Greenwich conveyancing companies pay you a referral fee if I retain them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Greenwich.