We are hoping to buy a 3 bedroom flat in New Beckenham with a loan from Aldermore.We have a New Beckenham conveyancing lawyer but Aldermore informed us she’s not listed on their approved list of member firms. We have to appoint a Aldermore panel firm or keep our local solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Aldermore use our lawyer?
No, not really. The mortgage offered to you is subject to its various provisions, a common one being that solicitors needs to be on the Aldermore conveyancing panel. in the past, most banks had large numbers of law firms 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 solicitors to apply to be on the conveyancing panel for Aldermore
four months have gone by since my purchase conveyancing in New Beckenham completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a leasehold apartment up to £235,500 and found one round the corner in New Beckenham I like with a park and transport links nearby, however it only has 61 years on the lease. I can't really find anything else in New Beckenham suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
I am on look out for some leasehold conveyancing in New Beckenham. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is registered - and most are in New Beckenham - 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.
Notwithstanding our best efforts, we have been unsuccessful in seeking a lease extension in New Beckenham. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We are happy to put you in touch with a New Beckenham conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a New Beckenham residence is 26 Manor Road in July 2010. the Tribunal decided that price to be paid for the freehold was £12,420 This case affected 2 flats. The unexpired residue of the current lease was 76.75 and 88.83.
Our lender agreed in principle to grant us a mortgage. We are using a long established conveyancer in New Beckenham yesterday. A couple of hours ago, our broker contacted us saying that the lender said that we cannot use our solicitor as they aren't on their panel. As FTB's, we had no idea that the mortgage company had some control over our choice Is this usual?
You can actually select any conveyencer you prefer to appoint for your conveyancing in New Beckenham but if your bank aren't happy with them you must incur additional cost so the bank can retain their own conveyancer too. It may be conceivable that your solicitor may apply to get included on to the bank list of approved firms. You can use internet search facilities including lenderpanel.com to find a conveyancing solcitor in New Beckenham on the mortgage company panel. You can go into your high street lender branch in New Beckenham. They can recommend conveyancing solicitors in New Beckenham on the panel for your mortgage company.