I am nearing an exchange on a property in Lewisham and my parents have transferred the 10% deposit to my solicitor. I am now advised that as the deposit has been received from someone other than me my property lawyer needs to disclose this to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I disclosed to the lender concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The lawyer is legally required to check with the bank to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
I require fast conveyancing in Lewisham as I have pressure to complete within 4 weeks. A home loan is not required. Is it possible to escape the need for conveyancing searches to save fees and time?
As you are not taking a mortgage you are at free not to have searches carried out although no conveyancer would suggest that you don't. Drawing on years of experience of conveyancing in Lewisham the following are examples of what can show up and therefore impact the marketability of the property: Refused Planning Applications, Overdue Charges, Outstanding Grants, Road Schemes,...
Over the last few months I have been searching for a flat up to £305k and identified one close by in Lewisham I like with open areas and railway links nearby, however it only has 51 years on the lease. I can't really find anything else in Lewisham in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage the shortness of the lease may be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
I am thinking of appointing a conveyancing solicitor in Lewisham for my house move. Is it possible to review a firm’s record with the legal regulator?
One can see published Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The SRA could recorded telephone calls for training purposes.
We expect to complete our sale of a £125,000 flat in Lewisham in just under a week. The management company has quoted £324 for Certificate of Compliance, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Lewisham?
Lewisham conveyancing on leasehold maisonettes normally necessitates the buyer’s solicitor sending enquiries for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be content to assist. They are entitled to invoice a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The administration charge demanded by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, without which the charge is not strictly payable. Reality however dictates that one has no option but to pay whatever is demanded should you wish to sell the property.
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Lewisham. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the sum to be paid.
An example of a Lease Extension decision for a Lewisham residence 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 related to 2 flats. The unexpired lease term was 72 years.
What do I do if I am not happy with the conveyancing practitioner who conducted our conveyancing in Lewisham?
Occasionally the level of service you receive is not as you expect, and is is a fact of life that sometimes matters do not go as planned. Nevertheless there is recourse where you were not happy with your conveyancing in Lewisham. This varies from trying to resolve matters directly with them, through to reporting a solicitor to their governing body. If you remain dissatisfied you may consider enlisting the help of the Legal Ombudsman.