Our solicitor has discovered a a legal deficiency with the lease for the apartment we are buying in Rotherhithe. The other side have put forward defective title insurance as a solution. We are content with insurance and will pay for it. Our conveyancer says that he must check that the bank is willing to move forward with this solution. Are we the client or is the mortgage company ?
Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. These conveyancing instructions must be adhered to.
Can I use your services to find a Conveyancing solicitor in Rotherhithe even where I’m not purchasing or disposing of a house, for example if I wish to acquire an office in Rotherhithe with a loan from Halifax?
The service is predominantly utilised to help choose residential conveyancing solicitors in Rotherhithe but we have listed at the end of this page a selection of Rotherhithe commercial conveyancing firms. You should make contact with the company directly to check if they are also authorised to represent Halifax
I am assisting my sister sell her property in Rotherhithe. Will the solicitor commission an energy assessment or it is for the seller to coordinate?
After the abolition of HIPs, energy performance certificates was retained a required part of moving property. An energy performance certificate should be commissioned prior to the property being marketed. This is not something that conveyancers normally organise. Where you are using a Rotherhithe conveyancing practitioner they may help arrange energy performance certificates given their contacts with long established local assessors
Completion of my purchase has taken place for my property in Rotherhithe. Conveyancing was a necessary evil but I would like to complain about the lender. How do I make a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Rotherhithe building society branch on various occasions and was told it wasn't a problem and they will lend. My Rotherhithe conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they will not lend in accordance with their specific requirements. Who do I believe?
The lawyer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am purchasing a new build house in Rotherhithe with a loan from Coventry Building Society. The developers would not budge the amount so I negotiated 6k of fixtures and fittings instead. The property agent told me not to tell my lawyer about this side-deal as it would adversely affect my mortgage with Coventry Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am 14 days into a freehold purchase having been referred to a firm by the high street agent to do our conveyancing in Rotherhithe. I am am starting to be dissatisfied with the quality of service. Can you help me find new conveyancers?
A lawyer would need to be really bad in order to consider diss instructing them. Has your mortgage been sent? In the event that it has you will need to inform them of the new contact details and get the mortgage documents are re-sent. Your new conveyancer should be on the lenders panel to avoid added fees and complications. So that should be your starting point. Our find a solicitor tool can assist you in finding a bank approved conveyancer for your conveyancing in Rotherhithe
Having spent years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Rotherhithe. Can we issue an application to the Residential Property Tribunal Service?
You certainly can. We can put you in touch with a Rotherhithe conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Rotherhithe property is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case related to 3 flats. The unexpired term was 101.61 years.
Are there frequently found deficiencies that you come across in leases for Rotherhithe properties?
There is nothing unique about leasehold conveyancing in Rotherhithe. All leases are unique and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
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Repairing obligations to or maintain elements of the property Maintenance charge proportions which don’t add up to the correct percentage
You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Norwich and Peterborough Building Society, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, forcing the buyer to withdraw.