I am need of leasehold conveyancing for an apartment in a relatively new development (seven years built) in Norbury. 95% of the appartments have already been disposed of. Do I need carry out the conveyancing searches as part of conveyancing in Norbury?
You would be opening yourself up to an unnecessary risk in failing carrying out Norbury conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would seriously advise in no uncertain terms that you have them. Where speed and cost are primary concerns you should consider with your solicitor about the possibility of search insurance
I purchased a freehold house in Norbury but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Norbury and has limited impact for conveyancing in Norbury but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
My lawyer in Norbury is not listed on the TSB Conveyancing Panel. Can I still continue with my family solicitor even though they are not on the TSB approved list?
Your options are as follows:
- Carry on with your existing Norbury solicitors but TSB will need to use a lawyer on their list of acceptable firms. This will result in additional overall legal fees and cause frustration.
- Get a new solicitor to to deal with the conveyancing, obviously checking they are TSB approved.
- Persuade your TSB solicitor to attempt to join the TSB panel
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Norbury?
Two types of professional can conduct conveyancing in Norbury namely CLC regulated conveyancers or solicitors. The two can administer conveyancing services that you need to complete the disposal or purchase of property. They are both obliged to execute Norbury conveyancing to the same standards and guidelines so you can be safe in the knowledge that your conveyancing will be professionally carried out and that all requirements and procedures should be accurately followed.
Last month we had a mortgage agreed in principle with TSB. Norbury conveyancing practitioners have been appointed. What is the average time that one could expect to receive a mortgage offer from TSB?
Some lenders take longer than others. Have TSB completed the valuation? Have you informed TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Planning on purchasing a maisonette in Norbury. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Leeds Building Society conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Norbury conveyancing practitioner is on the Leeds Building Society conveyancing panel.
Should my lawyer be raising questions regarding flooding during the conveyancing in Norbury.
Flooding is a growing risk for solicitors dealing with homes in Norbury. There are those who buy a house in Norbury, completely expectant that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, however there are a number of searches that can be undertaken by the buyer or by their lawyers which can give them a better appreciation of the risks in Norbury. The standard completed inquiry forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the vendor to find out whether the property has ever been flooded. If flooding has previously occurred and is not disclosed by the owner, then a purchaser may commence a claim for damages as a result of such an incorrect reply. A purchaser’s solicitors may also commission an enviro search. This should indicate if there is any known flood risk. If so, additional inquiries will need to be made.
The financial adviser has recommended their lawyer for my conveyancing in Norbury - Surely it’s advisable to just use them?
It is not always the case and you are at liberty to use whichever property lawyer you decide for your Norbury conveyancing. The lawyer suggested by a 3rd party adviser may not always be the right conveyancer, they may suggest their own conveyancing firm who are based far away. In this instance you may not have contact with your conveyancer and due to the lack of continuity in the transaction, it may be difficult to obtain progress reports.