I am buying a ground floor flat in South Norwood. My Solicitor is not on the bank solicitor list. Is it possible for me to continue with my South Norwood conveyancing solicitor even though they are not on the mortgage company list of approved lawyers?
You have a couple of alternatives available to you here
- Proceed with your existing South Norwood conveyancer but your lender will undoubtedly retain a solicitor on their approved panel. This will result in additional cost and likely interruption.
- Get a fresh lawyer to conduct the conveyancing, ensuring that they are on the bank conveyancing panel.
- Convince your lawyer to pull out all the stops to get listed on the mortgage company conveyancing panel
Can I use your services to locate a Conveyancing solicitor in South Norwood even where I’m not purchasing or selling a house, for example where I intend to buy a shop in South Norwood with a mortgage from Lloyds TSB Bank?
Our comparison service is predominantly utilised to locate residential conveyancing solicitors in South Norwood but we have set out towards the end of this page some South Norwood commercial conveyancing firms. You will need to speak with the firm directly to establish if they are also authorised to represent Lloyds TSB Bank
My fiance and I decided to purchase a purpose built apartment in South Norwood with a homeloan from Norwich and Peterborough Building Society.We use our South Norwood conveyancing practitioner but Norwich and Peterborough Building Society advised that her practice is not on their approved list of member firms. It seems we are left with no choice but to instruct a Norwich and Peterborough Building Society panel lawyer or keep our local solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The home loan issued to you is subject to its terms and conditions, a common one being that lawyers will be on the Norwich and Peterborough Building Society conveyancing panel. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for Norwich and Peterborough Building Society
I am the sole beneficiary of my late grandmother’s will with all property in now in my sole name, including the my former home in South Norwood. Conveyancing formalities meant that the Land Registry date was in July. I plan to dispose of the house. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship may be treated the same way as though I had purchased the house in July. Do I have to wait half a year to sell?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. How sensible a view mortgage companies take of it, depend on the lender as this requirement chiefly exists to pick up on subsales or the flipping of properties.
I'm spending time viewing apartments in South Norwood and I am now considering a potential offer. Is it too early to have a solicitor in place? I am planning to take a home loan with Leeds Building Society.
It would be wise to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. As you are taking out a mortgage with Leeds Building Society, ask your prospective lawyers if they are on the Leeds Building Society conveyancing panel otherwise they can't do the mortgage legal work.
I am due to exchange contracts on my flat. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Clydesdale are being pedantic. The South Norwood solicitor who is on the Clydesdale conveyancing panel is recommending indemnity insurance as a solution but Clydesdale are requiring a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have been on the look out for a ground for flat up to £305k and identified one round the corner in South Norwood I like with amenity areas and railway links in the vicinity, however it's only got 51 years unexpired on the lease. I can't really find anything else in South Norwood suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan that many years will be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
Can you provide any advice for leasehold conveyancing in South Norwood with the purpose of expediting the sale process?
- Much of the delay in leasehold conveyancing in South Norwood can be avoided if you get in touch lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ lawyers. Some South Norwood leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers. If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you laid down wooden flooring? South Norwood leases often stipulate that internal structural alterations or addition of wooden flooring calls for a licence from the Landlord consenting to such works. Should you dont have the consents in place you should not communicate with the landlord without contacting your lawyer before hand. The majority of freeholders or Management Companies in South Norwood levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought 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 frequent cause of delay in leasehold conveyancing in South Norwood.
Having spent years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in South Norwood. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most certainly. We can put you in touch with a South Norwood conveyancing firm who can help.
An example of a Lease Extension case for a South Norwood flat is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case affected 1 flat. The unexpired term was 26.38 years.