Much to our surprise we have been told by our mortgage broker that my New Addington solicitor is not on the lender Solicitor panel. What can I do to be certain if this is indeed the case?
The first thing you need to do is to contact your New Addington lawyer directly. You lawyer should notify you what has happened. Where they are not on the panel they may be able to suggest a New Addington conveyancing firm that is on the approved list of lawyers for your lender.
Our New Addington conveyancer has discovered a discrepancy when comparing the information in the valuation survey and what is in the title deeds. My lawyer informs me that he is duty bound to check that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s stance appropriate?
Your lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
How up to date is your database of New Addington solicitors on the Co-operative conveyancing panel? Do Co-operative send you an updated list?
New Addington conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
I am in the process of refinancing my flat in New Addington, does my lawyer have to be on the Aldermore Solicitor panel?
There is nothing to stop you using your solicitor, but Aldermore will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I need to instruct a conveyancing solicitor for freehold conveyancing in New Addington. I have land on a site which seems to have the ideal offering If there is a chance to get all this stuff done via email that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am attracted to a couple of maisonettes in New Addington both have approximately forty five years left on the leases. Do I need to be concerned?
There are plenty of short leases in New Addington. The lease is a legal document that entitles you to use the property for a period of time. As a lease shortens the value of the lease deteriorates and it becomes more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. It is often difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena.
I am the registered owner of a two-bedroom flat in New Addington. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a New Addington conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a New Addington premises is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case related to 6 flats. The number of years remaining on the existing lease(s) was 78.32 years.