My wife and I are purchasing a 2 bedroom apartment in Mortlake with a mortgage. We have a Mortlake conveyancer, but the lender advise she’s not on their "panel". It appears that we have little choice but to instruct one of the bank panel solicitors or keep our Mortlake conveyancer and pay for one of their panel lawyers to act for them. We feel that this is unjust; can we not demand that the bank use our Mortlake conveyancer ?
Unfortunately,no. The mortgage offered to you 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 Mortlake conveyancing lawyer to apply to be on the conveyancing panel.
Can the conveyancing solicitors that you recommend perform right to buy conveyancing in Mortlake?
We work with a variety of conveyancing practitioners carrying out right to buy transactions Please e-mail us with a view to secure a costs calculation.
How do I investigate if the solicitor conducting my conveyancing in Mortlake is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Birmingham Midshires thus paying £175.00 in another set of conveyancing invoice.
Please do make use of the find a lender approved solicitor tool on this site. Pick the mortgage company and type ‘Mortlake’ or your location and you will be presented with numerous solicitors based in Mortlake or nearest you.
A relative advised me that where I am purchasing in Mortlake I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Mortlake conveyancing searches. It is a large report of about 40 pages, listing and detailing important information about Mortlake around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Mortlake Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Mortlake Education with plans and statistics, Local Amenities and other useful data about Mortlake.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Mortlake is the location of the property. What do you suggest?
Flying freeholds in Mortlake are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Mortlake you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Mortlake may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am looking at a two apartments in Mortlake both have about fifty years left on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Mortlake. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease shortens the value of the lease decreases and results in it becoming more expensive to acquire a lease extension. This is why it is advisable to increase the term of the lease. More often than not it is difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field.
Despite our best endeavours, we have been unsuccessful in trying to reach an agreement for a lease extension in Mortlake. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to make a decision on the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Mortlake residence is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case related to 3 flats. The unexpired term was 66.25 years.