We are intending to acquire a 3 bedroom flat in South London with a mortgage. We have a South London lawyer, but the bank says she’s not on their "panel". It appears that we have little choice but to instruct one of the bank panel solicitors or continue with our South London conveyancer and pay for one of their panel firms to represent them. We feel that this is unjust; is there anything we can do?
No, not really. Your mortgage offer 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. Another option that might be available is for your South London conveyancing solicitor to apply to be on the conveyancing panel.
In what way does my ID and proof of funds have anything to do with my conveyancing in South London? Is this really necessary?
South London conveyancing solicitors and indeed property lawyers throughout the UK have an obligation under money laundering regulations to verify the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and proof of address (usually a Bank Statement less than 3 months old).
Proof of source of funds is also required in accordance with the money laundering statutes as solicitors are required to check that the monies you are using to acquire a property (whether it be the deposit for exchange or the full purchase monies where you are a cash purchaser) has come from a reputable source (such as an inheritance) and is not the proceeds of criminal behaviour.
What will a local search tell me regarding the house we're buying in South London?
South London conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search company such as Searchflow The local search is essential in every South London conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your new home. The search should provide information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
I moved into my house on 16 March and my personal details is yet to be registered. Need I be worried? My conveyancing solicitor in South London expressed confidence that it would be registered in less than a month. Are properties in South London particularly slow to register?
As far as conveyancing in South London is concerned, registration is no faster or slower than anywhere else in the country. Rather than based on location, timeframes can vary subject to the party submitting the application, whether it is in order and whether the Land registry communicate with any third parties. As of today roughly three quarters of such applications are completed within 12 days but occasionally there can be protracted delays. Historically registration takes place once the new owner is living at the premises thus 'speed' is not usually an essential issue but if there is a degree of urgency associated with the registration then you or your lawyers could contact the land registry and explain the circumstances.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what should have been a quick, chain free conveyancing. South London is where the house is located. Can you shed any light on this issue?
Flying freeholds in South London are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in South London you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South London 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.
Is planning permission required to convert a single dwelling into multiple flats in South London? This has been carried out to a house opposite to my home in South London and was ignorant of it happening until it was done.
Planning Permission yes. Building Reg Approval yes.