Am I correct in assuming that the fact that my solicitor in Sidcup is not identified on my lender's conveyancing panel that there is a problem with the quality of the firm’s conveyancing?
That is more than likely an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Sidcup conveyancing firm and enquire why they are no longer on the approved list for your bank.
A friend advised me that in purchasing a property in Sidcup there could be various restrictions limiting what one can do in terms of external alterations to the property. Is this right?
There are a number of properties in Sidcup which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Sidcup should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
About to purchase maisonette in Sidcup. 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 Coventry BS 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 Sidcup conveyancing practitioner is on the Coventry BS conveyancing panel.
I have finally had an offer on a flat in Sidcup agreed to, but there is a chain. The sellers have offered on a flat, but it’s not been accepted yet, and are looking at other properties in the pipeline. I have chosen a high street conveyancing solicitor in Sidcup. What should be my next step? When do I get the mortgage application with Principality started?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx £1k, then valuation, Sidcup conveyancing search charges, etc). The first course of action is to check that your conveyancing practitioner is on the Principality conveyancing panel. Concerning the subsequent steps this very much dictated by the circumstances of your transaction, desire for the property and on the state of the market. In a hot market some purchasers will apply for the mortgage with Principality and pay for the valuation and only if it was satisfactory would they request their lawyer to move forward with searches.
I am purchasing my first flat in Sidcup benefiting from help to buy. The developers refused to reduce the price so I negotiated £7000 of extras instead. The house builders rep told me not reveal to my conveyancer about this deal as it may affect my loan with Leeds 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've recently found out that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Sidcup is the location of the property. What do you suggest?
Flying freeholds in Sidcup are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Sidcup you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sidcup 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.
In my capacity as executor for the will of my grandmother I am selling a house in Swansea but I am based in Sidcup. My lawyer (who is 300 miles awayhas requested that I sign a stat dec prior to the transaction finalising. Could you suggest a conveyancing solicitor in Sidcup to witness this legal document for me?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are based in Sidcup
Do you have any top tips for leasehold conveyancing in Sidcup with the purpose of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Sidcup can be avoided where you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the buyers’ conveyancers. If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over rather than unsettled. In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Sidcup leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord approving such alterations. Where you fail to have the approvals to hand you should not contact the landlord without contacting your lawyer before hand. The majority of freeholders or managing agents in Sidcup charge for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Sidcup. If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Obtaining a new share certificate is often a time consuming formality and frustrates many a Sidcup home move. Where a duplicate share certificate is needed, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Sidcup conveyancing firm to represent me?
Absolutely. We can put you in touch with a Sidcup conveyancing firm who can help.
An example of a Lease Extension case for a Sidcup property is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case was in relation to 1 flat.