My husband and I are looking to purchase a house in Greenwich and have instructed a Greenwich conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Britannia have this afternoon contacted us to inform me that there is now an issue as our Greenwich conveyancer is not on their conveyancing panel. Please explain?
Where you are buying a property with the assistance of a mortgage it is normal for the purchasers' lawyers to also act for the mortgage company. 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 don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Greenwich lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
My grandmother passed away last year and as sole heir and executor I was left the property in Greenwich. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Leeds Building Society, pay off the mortgage. Is this possible?
Given you plan to re-mortgage then Leeds Building Society will insist on your using a conveyancer on the Leeds Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Leeds Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Leeds Building Society mortgage is registered as a charge at the Land Registry.
How does conveyancing in Greenwich differ for new build properties?
Most buyers of new build or newly converted property in Greenwich come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Greenwich usually acquire 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 conveyancers 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.
I opted to have a survey done on a property in Greenwich prior to instructing lawyers. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies will refuse to issue a mortgage on a flying freehold house.
It varies from the lender to lender. HSBC has different requirements from Nationwide. If you call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Greenwich. Conveyancing may be slightly more expensive based on your lender's requirements.
Is it simple use the search tool to locate a conveyancing solicitor in Greenwich on the panel for my bank?
Step one is to select a bank such as Barclays , Virgin Money or Platform Home Loans Ltd then type in your preferred area for example Greenwich. Conveyancing firms in Greenwich and across England and Wales should be shown.
Completion is due on the disposal of our £125,000 flat in Greenwich next Monday. The landlords agents has quoted £420 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Greenwich?
For the majority of leasehold sales in Greenwich conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Addressing conveyancing due diligence enquiries
Where consent is required before sale in Greenwich
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Greenwich conveyancing firm to assist?
Where there is a missing landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to calculate the premium.
An example of a Lease Extension matter before the tribunal for a Greenwich premises is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case affected 2 flats. The remaining number of years on the lease was 72 years.