Me and my fiance are buying a 2 bedroom apartment in Thornton Heath with a mortgage. We have a Thornton Heath solicitor, but the bank advise he's not on their "panel". It seems we have little option but to instruct one of the mortgage company panel solicitors or keep our Thornton Heath conveyancing practitioner and pay for one of their panel lawyers to act for them. We regard this is unjust; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Thornton Heath conveyancing lawyer to apply to be on the conveyancing panel.
As a first time buyer what is the most important advice you can give me concerning purchase conveyancing in Thornton Heath?
Not many law firms or advisers will tell you this but conveyancing in Thornton Heath and elsewhere in Surrey is often a confrontational process. Put another way, when it comes to conveyancing there is an abundance of opportunity for conflict between you and other parties involved in the legal transfer of property. E.g., the seller, property agent and on occasion the mortgage company. Selecting a lawyer for your conveyancing in Thornton Heath is a critical decision as your conveyancer is your adviser, and is the ONE person in the transaction whose interest is to act in your best interests and to protect you.
There is a definite ongoing adversarial element to conveyancing- someone has to be at fault for the process being so protracted. We recommend that you should always trust your conveyancer above the other players when it comes to the legal assignment of property.
What is the difference between a licensed conveyancer and conveyancing solicitor in Thornton Heath
There are many registered licenced Conveyancers in Thornton Heath and Solicitor practices in Thornton Heath who can help with your conveyancing It is important to make clear that the two are regulated professionals specialising in the legal work in transferring property. Both can conduct associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
My wife and I have arranged a further advance on our mortgage from Skipton as we intend to conduct alterations to our home in Thornton Heath. Do we need to select a high street Thornton Heath solicitor on the Skipton conveyancing panel to deal with the paperwork?
Skipton do not ordinarily instruct a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton list.
Intending to buy a maisonette in Thornton Heath. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative 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 Thornton Heath property lawyer is on the Co-operative conveyancing panel.
How do I locate a Thornton Heath solicitor on the Halifax conveyancing panel? I have wheels and am happy to travel upto 10miles to meet the solicitor.
Feel free to make use of the tool on this website. Please select a mortgage company and your location and you will see a number of Thornton Heath conveyancing lawyers locally. We have listed some Thornton Heath conveyancing firms at the bottom of this page and you can contact them to check if they are on the Halifax panel
I need to retain a conveyancing solicitor for leasehold conveyancing in Thornton Heath. I have land on a site which appears to be the ideal answer If there is a chance to get all formalities completed via email that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am attracted to a two flats in Thornton Heath which have in the region of forty five years unexpired on the lease term. Do I need to be concerned?
There are no two ways about it. A leasehold apartment in Thornton Heath is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. The majority of purchasers and mortgage companies, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Thornton Heath conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
We have reached the end of our tether in trying to purchase the freehold in Thornton Heath. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to arrive at the price payable.
An example of a Lease Extension case for a Thornton Heath property is Ground Floor Flat 14 Lodge Road in October 2013. the tribunal held that the price payable for the acquisition of the extended lease of the property should be £12,590 .00 This case was in relation to 1 flat. The unexpired term as at the valuation date was 69.46 years.