My fiance and I are buying a purpose built flat in Brockley with a residential mortgage from Barclays Direct.We have a Brockley conveyancing practitioner but Barclays Direct says her practice is not on their "panel". It seems we are left with no choice but to instruct a Barclays Direct panel firm or keep our preferred solicitor and fork out for a Barclays Direct panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that Barclays Direct use our lawyer?
No, not really. The loan offered to you contains various provisions, a common one being that solicitors will be on the Barclays Direct approved list. Until recently, most mortgage companies had large numbers of solicitors 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 Barclays Direct
My bid for a property was accepted at auction in Brockley. Conveyancing is required. What happens now?
Having legally bound yourself to purchase you must hire the services of a conveyancing lawyer soon as you are faced with a pending a fixed date to complete the deal. All auction property should have an associated auction pack. This should include evidence of title and search results. In the case of leasehold property the auction papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You must give this to your appointed conveyancing solicitor ASAP. You also need to ensure that your finances are in order to complete the transaction on the set completion date.
My lawyer has informed me that lack of right of way insurance is needed on my purchase. What is the level of cover for Brockley conveyancing?
The right level of lack of right of way indemnity insurance should be dictated by who your lender. It would differ for example between Santander and Leeds Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.
We have agreed to purchase a house in Brockley. A rare aspect is that the roof has a solar panel. Leeds Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Leeds Building Society your lawyer must comply with the formal instructions outlined in Part two of UK Finance Lenders’ Handbook for Leeds Building Society. The Council of Mortgage Lenders’ Handbook includes minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to Leeds Building Society where a lease does not satisfy these provisions. The specifications relate to the installation of panels on properties nationwide and is not restricted to Brockley.
I opted to have a survey completed on a property in Brockley ahead of instructing conveyancers. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some mortgage companies may not give a mortgage on a flying freehold house.
It varies from the lender to lender. Lloyds has different requirements from Halifax. If you call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Brockley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Brockley to see if the conveyancing will be more expensive.
I am 18 days into a freehold purchase having been directed to solicitors by the local agent to do our conveyancing in Brockley. I am not happy. Can you you assist me in finding new solicitors?
A lawyer would need to be very bad to suggest replacing them. Has your mortgage been generated? If so you must inform them of the new contact details and have the loan are re-issued. Your conveyancer should be on the lenders approved list to avoid supplemental charges and frustration. So that should be your starting point. Our search tool will help you find a lender approved conveyancer for your conveyancing in Brockley
Do you have any advice for leasehold conveyancing in Brockley from the point of view of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Brockley can be bypassed where you appoint lawyers the minute you market your property and ask them to put together the leasehold information needed by the purchasers’ representatives. If there is a history of any disputes with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as over rather than ongoing. If you have carried out any alterations to the residence would they have required Landlord’s approval? In particular have you installed wooden flooring? Brockley leases often stipulate that internal structural changes or installing wooden flooring require a licence issued by the Landlord consenting to such changes. Where you dont have the consents to hand you should not contact the landlord without checking with your lawyer first. You may think that you are aware of the number of years remaining on your lease but you should verify this via your conveyancers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is less than 80 years. It is therefore essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale.
I own a first floor flat in Brockley. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?
Where there is a absentee 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 LVT to decide the price.
An example of a Freehold Enfranchisement case for a Brockley residence is 41 Endwell Road in March 2013. this matter relateed to the acquisition of the freehold of a mid- terraced Victorian house converted into three separate self-contained dwellings. By an order dated 28/11/2012, Deputy District Judge Cole in the Bromley County Court held that the leaseholders were entitled to acquire the freehold and directed that the premium payable be determined by this Tribunal. The Tribunal assessed the premium to be £14,753 This case related to 3 flats. The remaining number of years on the lease was 80.01 years.