Is the fact that my conveyancer in Lambeth is not on my lender's solicitor panel that there is a problem with the standard of the firm’s work?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack 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 Lambeth conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
When it comes to lenders such as Yorkshire BS, do Lambeth property lawyers have to pay a yearly amount to be on the list of approved solicitors?
We are not aware of any bank fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Is it the case that all Lambeth solicitor practices on the Lloyds conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Lloyds approved list of solicitors they would need to be overseen by the SRA. The majority of lenders do allow licenced conveyancers on their panel in which case such firms would be governed by the Council of Licensed Conveyancers.
Bank of Ireland have agreed my mortgage in principle, my bid on a apartment in Lambeth has been accepted, what are the next steps?
The estate agent will wish to know who your solicitors are (ensure that the lawyers are on the lender’s approved list). Call up Bank of Ireland or the financial adviser and finalise any appropriate documentation. Bank of Ireland will instruct a valuer who will get in touch with the estate agent or vendor to schedule a slot for the valuation to take place. Once carried out (assuming no problems) it takes on average ten days for the mortgage offer to be issued. Bank of Ireland will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Lambeth.
Just had an offer accepted on a new build apartment in Lambeth. Conveyancing is daunting 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 is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Lambeth
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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 architect prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
I was advised by a number of selling agents in Lambeth to find a solicitor using your seach tool. What’s the financial inducement for Estate Agents to recommend your lawyers rather than a competitor’s?
We don’t make any financial incentive for directing people our way. We found it would be just too difficult a fee as a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
I am on look out for some leasehold conveyancing in Lambeth. Before I get started I want to be sure as to the remaining lease term.
If the lease is registered - and most are in Lambeth - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Having spent years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Lambeth. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to arrive at the sum to be paid.
An example of a Lease Extension case for a Lambeth residence is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case related to 2 flats. The unexpired residue of the current lease was 56 years.
Is it possible for you to suggest a good Lambeth conveyancer for purchasing a flat? A relative suggested one but their estimate was £895 for a 225k property. I think thats a tad expensive. The lender will be Yorkshire BS.
LenderPanel.com is limited to being a directory service for conveyancers who wish to be listed as being on the approved conveyancing panel for Yorkshire BS in certain locations for example Lambeth . We dont recommend any particular property lawyer.