Me and my partner are planning to purchase a 3 bedroom flat in Walworth with a mortgage. We would like to retain our Walworth lawyer, but the mortgage company advise he's not on their "panel". We have to appoint one of the bank panel conveyancing practices or continue with our Walworth property lawyer as well as pay for one of their panel lawyers to act for them. We consider that this is inequitable; can we not insist that the lender use our Walworth property lawyer ?
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. A further alternative is for your Walworth conveyancing solicitor to apply to be on the conveyancing panel.
The owners of the home we are purchasing hired a conveyancing solicitor in Walworth who has recommended a exclusivity agreement with a payment two thousand pounds. Is it wise to enter into such agreements?
Lock out agreements are agreements binding a home owner and prospective acquirer granting the buyer exclusive rights to purchase the property for a certain period of time. For all intents and purposes, a lock out agreement is a contract specifying that you will have a contract at a later time which is the main conveyancing contract. It tends to be utilised for buyer protection though in some cases, the proprietor may enjoy an upside from such agreements as well. There are many pros and cons to using them but you should to check with your solicitor but beware that it may end up incurring more in conveyancing charges. In light of these reasons these contracts are avoided in relation to conveyancing in Walworth.
I purchased a freehold house in Walworth but nevertheless charged rent, why is this and what is this?
It is rare for properties in Walworth and has limited impact for conveyancing in Walworth but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I just acquired a flat at auction in Walworth. Conveyancing is needed. What is next?
Given that you have now for in every practical sense signed on the dotted line you now have to appoint a conveyancing lawyer quickly as you are faced with a fast approaching a fixed date to complete the deal. All auction property should have a corresponding auction pack. This should include evidence of title and search results. In the case of leasehold premises the auction pack should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to leasehold premises. You must give this to the conveyancer working for you at the earliest opportunity. Do make sure that your finances are organised to complete on the on the contractual date .
We have agreed to purchase a house in Walworth. One unusual aspect is that the roof has a solar panel. Skipton have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Skipton your lawyer must follow the conveyancing requirements contained in Part 2 of UK Finance Lenders’ Handbook for Skipton. The CML Handbook contains minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Skipton where a lease does not comply with these specifications. The provisions relate to the installation of panels on properties nationwide and is not restricted to Walworth.
My offer on a detached house in Walworth has been agreed to, the vendors do however have a dependent purchase. The vendors have placed an offer on a flat, but it’s not been accepted yet, and are looking at other apartments booked. I have instructed a high street conveyancing solicitor in Walworth. What should be my next step? When do I get the mortgage application with Yorkshire BS going?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx £1k, then survey, Walworth conveyancing search fees, etc). The first thing to do is check that your solicitor is on the Yorkshire BS conveyancing panel. As to the next steps this very much dictated by the uniqueness of your transaction, motivation for the property and on the state of the market. In a rising market many purchasers would apply for the mortgage with Yorkshire BS and arrange for the valuation and only if it comes back ok would they pay their conveyancer to proceed with searches.
What does commercial conveyancing in Walworth cover?
Walworth conveyancing for business premises incorporates a wide range of advice, offered by regulated solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
New build sellers have recommended to me a property lawyer and I've sought a quote from them. They are nearly three hundred pounds cheaper than my family Walworth conveyancing practitioner. What's the catch?
Builders normally have panels of conveyancers who expedite matters and who know the seller’s paperwork and lawyer. As many developers offer an incentive to select a preferred property lawyer for this reason, any increased charges can be avoided and a developer won't put forward a conveyancing factory and run the risk of having the transaction stall when they require an exchange within a tight deadline. The argument for not agreeing to use the suggested conveyancing practitioner is that they may be unwilling to 'push' your interests for fear of upsetting the sellers. Where you have concerns that this may be the situation you should stick with your high street Walworth conveyancer.