My fiance and I are looking to purchase a property in New Eltham and have instructed a New Eltham conveyancing practice. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. The Mortgage Works have this afternoon contacted us to advise us that there is now an issue as our New Eltham solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is usual for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred New Eltham lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
I opted to have a survey completed on a property in New Eltham ahead of retaining solicitors. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some lenders may refuse to give a loan on such a home.
It depends who your proposed lender is. Bank of Scotland has different requirements from Nationwide. Should you wish to call us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in New Eltham. Conveyancing may be slightly more expensive based on your lender's requirements.
As co-executor for the will of my aunt I am disposing of a property in Cardiff but I am based in New Eltham. My solicitor (who is 200 miles awayhas requested that I execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing lawyer in New Eltham who can witness and place their company stamp on the document?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are located in New Eltham
I am on look out for some leasehold conveyancing in New Eltham. Before I get started I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and almost all are in New Eltham - then the leasehold title will always include the basic details 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.
My wife and I have hit a brick wall in trying to purchase the freehold in New Eltham. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a New Eltham conveyancing firm who can help.
An example of a Lease Extension case for a New Eltham premises is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case affected 1 flat.
Living abroad I am unable to travel my New Eltham conveyancing solicitors office to execute documents for conveyancing in New Eltham – is this a problem?
Not a problem. New Eltham conveyancing lawyers can deal with conveyancing transactions for clients from a distance. It is not necessary for you to be able to be present a New Eltham conveyancers office. Almost all lawyer can deal with all communications via phone, post and email - whatever works for you.