I am getting a offer of a home loan from Halifax. I would like to enlist the help of a Licensed Conveyancer in West Dulwich. Does the Halifax Solicitor panel include conveyancers regulated by the CLC?
The Halifax approved solicitor list is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I own a freehold house in West Dulwich but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in West Dulwich and has limited impact for conveyancing in West Dulwich 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
My Conveyancer in West Dulwich has never been on on the Nationwide Building Society Conveyancing Panel. Is it possible for me to use my family solicitor notwithstanding that they are not on the Nationwide Building Society list of approved lawyers?
The limited options open to you here include:
- Complete the purchase with your existing West Dulwich lawyers but Nationwide Building Society will need to instruct a lawyer on their panel. This will result in additional overall legal charges and result in delays.
- Get a new practitioner to act in the conveyancing, remembering to check they are on the Nationwide Building Society panel
I am being told by my lawyer that flying freehold insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in West Dulwich?
The right level of flying freehold indemnity insurance should be dictated by who your lender. It would differ for example between Barclays and Norwich and Peterborough Building Society. Conveyancing practitioners as opposed to members of the public take out such insurances.
After much negotiation I have agreed a price on an apartment in West Dulwich. My mortgage broker recommended their conveyancers. I paid an upfront payment of £175. Soon after, the conveyancing practitioner contacted me embarrassingly acknowledging that they were not on the Aldermore conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Aldermore panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Our offer on a house in West Dulwich has been accepted, but there is a chain. The sellers have offered on on an apartment, however it’s not been accepted yet, and have viewings of other flats booked. I have chosen a nearby conveyancing solicitor in West Dulwich. What should be my next step? When do I get the mortgage application with Yorkshire BS going?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then valuation, West Dulwich conveyancing search fees, etc). The first course of action is to check that your property lawyer is on the Yorkshire BS approved list. As to the next phase this very much depends on the uniqueness of your transaction, motivation for this property and on the state of the market. During a rising market many home buyers would apply for the mortgage with Yorkshire BS and arrange for the valuation and only if it was satisfactory would they ask their conveyancer to press on with searches.
I opted to have a survey carried out on a house in West Dulwich prior to instructing conveyancers. I have been informed that there is a flying freehold aspect to the house. Our surveyor has said that some mortgage companies tend not grant a loan on a flying freehold home.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in West Dulwich. Conveyancing may be slightly more expensive based on your lender's requirements.
I am the registered owner of a second floor flat in West Dulwich. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount due for a lease extension?
You certainly can. We are happy to put you in touch with a West Dulwich conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a West Dulwich flat is 8 Deerbrook Road in May 2010. the Tribunal held that the enfranchisement price, in accordance with section 32 and Schedule 6 of the Leasehold Reform, Housing and Urban Development Act 1993 was £22,820, payable by the Applicants. By an order of the Lambeth County Court dated 17 June 2009 the case had been transferred to the Leasehold Valuation Tribunal for its determination of the premium payable This case was in relation to 3 flats.
Are there common deficiencies that you encounter in leases for West Dulwich properties?
There is nothing unique about leasehold conveyancing in West Dulwich. Most leases are drafted differently and drafting errors can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:
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Repairing obligations to or maintain parts of the premises A provision for the recovery of money spent for the benefit of another party.
You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Virgin Money, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to pull out.