Am I correct in assuming that the fact that my conveyancer in Catford is not on my lender's conveyancing panel that there is a problem with the quality of her conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the Catford conveyancing firm and ask them why they are no longer on the approved list for your bank.
In what way does my ID and proof of funds have anything to do with my conveyancing in Catford? Why is this being asked of me?
Catford conveyancing solicitors and indeed property practitioners accross the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to provide two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and proof of address (typically a Utility Bill no more than three months).
Evidence of source of funds is also required in accordance with the money laundering statutes as solicitors are obliged to investigate that the funds you are using to buy a property (be it the exchange deposit or the full purchase amount if you are a cash purchaser) has originated from an acceptable source (such as employment savings) rather than the proceeds of illegitimate behaviour.
We are due to move property in September. Does my conveyancing solicitor call the removal company on the completion day. Incidentally, can you recommend a removal company in Catford. Conveyancing firm was chosen before I stumbled across this website.
On the afternoon of completion you can pick up the keys from your selling agent but this can only be done after the previous owners solicitors confirm to the agent that the monies to complete are in and the keys can be passed over. You will need to inform the removal company that you are ready to move in. As a matter of policy we do not suggest a specific removal organisation but can help you find a conveyancing in Catford or a solicitor with expertise in conveyancing in Catford.
Is it correct that all Catford CQS (Conveyancing Quality Scheme) solicitors are on the UBS conveyancing panel?
It is true that some banks and building societies now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
My wife and I have organised a further advance on our mortgage from Leeds Building Society as we want to conduct improvements to our property in Catford. Are we obliged to choose a bricks and mortar Catford solicitor on the Leeds Building Society conveyancing panel to handle the paperwork?
Leeds Building Society do not ordinarily appoint firms on 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 Leeds Building Society list.
Due to the guidance of my in-laws I had a survey completed on a property in Catford ahead of instructing conveyancers. I have been informed that there is a flying freehold element to the house. Our surveyor advised that some mortgage companies tend not issue a loan on such a house.
It depends who your proposed lender is. Lloyds has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Catford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Catford to see if the conveyancing will be more expensive.
I am tempted by the attractive purchase price for a two flats in Catford both have in the region of 50 years remaining on the lease term. Will this present a problem?
There are plenty of short leases in Catford. The lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the saleability of the lease reduces and results in it becoming more costly to acquire a lease extension. For this reason it is generally wise to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We advise that you get professional assistance from a solicitor and surveyor with experience in this arena.
I inherited a ground floor flat in Catford. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
Most certainly. We can put you in touch with a Catford conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Catford residence is 44 Elmer Road in January 2013. The Tribunal dacied that amount to be paid by the Leaseholders for the Landlords freehold reversion was £12,951 as at the valuation date (20" September 2012).This matter was referred back to the Bromley County Court to deal with costs, fees and any other outstanding matters. This case was in relation to 2 flats. The unexpired term as at the valuation date was 74.25 years.