I can't travel far from Rotherhithe. What is the rationale as to why all Rotherhithe lawyers are not on all lender panels?

Banks ordinarily restrict either the nature or volume of conveyancing solicitors on their approved list of lawyers. A common example of such restriction(s) being that the organisation needs to have at least two partners. In addition to restricting the structure of firm, some lenders decided to reduce the size of their panel they allow to act for them. You should note that mortgage companies have no liability for the standard of service supplied by any Rotherhithe solicitor on their approved list. Property fraud was the primary trigger for the rationalisation of solicitor panels in the last decade even though there are differing thoughts about whether solicitors sat at the center of that fraud. Data via HM Land Registry reveal that thousands of conveyancing organisations only carry out a couple of conveyances annually. Those supporting conveyancing panel cuts ask why law firms deserve the right to remain on a conveyancing panel when clearly conveyancing is not their speciality?

Why is leasehold purchase conveyancing in Rotherhithe is more expensive?

In summary, leasehold conveyancing in Rotherhithe and elsewhere usually necessitates additional due diligence compared to freehold conveyancing. This includes analysing the lease terms, corresponding with the landlord concerning the service of applicable notices, obtaining current service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.

I'm purchasing a new build house in Rotherhithe with the aid of help to buy. The developers would not move on the price so I negotiated 6k of extras instead. The house builders rep advised me not to tell my conveyancer about this extras as it could adversely affect my loan with the bank. Do I keep my lawyer in the dark?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Over the last few months I have been searching for a flat up to £245,000 and identified one close by in Rotherhithe I like with open areas and station in the vicinity, the downside is that it's only got 52 years unexpired on the lease. I can't really find anything else in Rotherhithe for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?

If you need a mortgage the shortness of the lease will be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.

Are there any apps to assist me to identify a Rotherhithe solicitor on the Halifax conveyancing panel? I drive a motor bike and am prepared to travel upto 20kilometers to meet the conveyancer.

You can use the facility on this page. Please select a lender and your location and you will see a number of Rotherhithe conveyancing lawyers locally. We have detailed some Rotherhithe conveyancing firms at the bottom of this page and you can contact them to check if they are on the Halifax approved list