We are approaching an exchange on a house in Lewisham and my mum and dad have sent the exchange deposit to my conveyancer. I am now told that as the deposit has not come from me my solicitor needs to disclose this to my lender. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I disclosed to the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your solicitor is duty bound to clarify with mortgage company to make sure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
After looking at online forums for an affordable solicitor in Lewisham, many comment that I must use a CQS kitemarked lawyer. Can you explain what CQS is?
Lewisham Conveyancing Quality Scheme solicitors have achieved accreditation by the law Society The Law Society established CQS to establish evidence of quality standards in the in the legal transfer of properties. CQS helps house movers to identify practices that provide a quality residential conveyancing. Lewisham is one of locations in England and Wales in which accredited firms are based. The conveyancing scheme obliges law firms to undergo a strict assessment, compulsory training, self-reporting, random audits and annual reviews in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Council of Mortgage Lenders.
Various online forums that I have come across warn that are the number one cause of stalling in Lewisham conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Searches are not likely to feature in any slowing down conveyancing in Lewisham.
Having had my offer accepted I require leasehold conveyancing in Lewisham. Before I get started I require certainty as to the remaining lease term.
If the lease is registered - and 99.9% are in Lewisham - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the leaseholder of a ground floor flat in Lewisham. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
Absolutely. We are happy to put you in touch with a Lewisham conveyancing firm who can help.
An example of a Lease Extension case for a Lewisham flat is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case related to 2 flats. The unexpired term as at the valuation date was 72 years.
We are soon to exchange on the purchase a house in Lewisham but as a consequence of damage from the recent storms I have agreed compensation from the seller of five thousand pounds taking the form of a reduction in the price. I had intended this to be addressed as part of the conveyancing process yet the bank will not agree to this. Should they have been approached?
Your conveyancing practitioner that is on a lender conveyancing panel is required to inform the mortgage company of any changes to the purchase price. If you prohibit your property lawyer to report the reduction to your bank then they would need to disinstructing themselves from acting for you and the lender.