Do banks and building societies provide you with an approved list of Otford conveyancing solicitors? How do you know who is on the RBS conveyancing panel?

Otford conveyancing firms themselves provide us confirmation that they are on the RBS conveyancing panel as opposed to being supplied with a list from RBS directly.

I am buying a semi-detached house in Otford. How practical is it for me to do the conveyancing?

Leaving aside the complexities and merits of DIY conveyancing in Otford you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Otford.

How does conveyancing in Otford differ for newly converted properties?

Most buyers of new build or newly converted property in Otford approach us having been asked by the developer to exchange contracts and commit to the purchase even before the house is finished. This is because builders in Otford tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Otford or who has acted in the same development.

I am in need of some leasehold conveyancing in Otford. Before diving in I would like to find out the unexpired term of the lease.

If the lease is registered - and 99.9% are in Otford - 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.

Otford Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing

The majority of Otford leasehold apartments will be liable to pay a service bill for maintenance of the block invoiced on behalf of the landlord. Should you purchase the property you will have to meet this contribution, normally periodically accross the year. This may be anything from two or three hundred pounds to thousands of pounds for bigger purpose-built blocks. In all likelihood there will be a rentcharge for you to pay yearly, ordinarily this is not a exorbitant sum, say around £50-£100 but you need to enquire as occasionally it could be prohibitively expensive. This information is useful as a) areas may result in problems in the building as the common areas may begin to deteriorate where maintenance remain unpaid b) if the leasehold owners have an issue with the managing agents you will need to have all the details Where a Otford lease has fewer than 80 years it will affect the salability of the flat. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. A short lease means that you will probably need a lease extension at some point and it is worth discovering how much this would cost. For most Otfordlease extensions you would be required to have owned the residence for 24 months in order to be legally able to extend the lease.

My conveyancers in Otford have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with the mortgage company. Is it case that being on the lender conveyancing panel they need to have retained the file for a number of years?

It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.