My partner and I are intent on purchasing a leasehold flat in South Norwood. My Conveyancer is not listed on the lender approved list. Am I still permitted to continue with my South Norwood conveyancing solicitor even though they are excluded from the lender panel?
You must appoint a lawyer to complete the formalities if you need a loan to buy your home. They will conduct all the relevant legal checks on the property, ensuring that you’re registered as proprietor and ensure that all the required mortgage documentation is in order. You could instruct a South Norwood lawyer of your choice. Nevertheless, if the property lawyer selected is not on the bank solicitor panel additional fees will be incurred as separate legal representation will be need by the mortgage company. Conveyancing panel applications can be submitted, so provided your conveyancer has not previously sought membership they should do so.
we are a couple who are buying a purpose built flat in South Norwood with a residential mortgage from Bank of Scotland.We have a South Norwood conveyancing lawyer but Bank of Scotland says her practice is not listed on their approved list of member firms. we are left little option but to use a Bank of Scotland panel firm or keep our high street solicitor and fork out for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan offered to you is subject to its terms and conditions, one of which will be that conveyancers will be on the Bank of Scotland solicitor panel. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could choose 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for Bank of Scotland
My friend suggested that where I am buying in South Norwood I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes included in the estimate for your South Norwood conveyancing searches. It is not a small document of about 40 pages, listing and setting out significant information about South Norwood around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the South Norwood Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, South Norwood Education with maps and statistics, Local Amenities and other useful information about South Norwood.
I used Stirling Law a few years past for my conveyancing in South Norwood. I now require my papers however the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in South Norwood of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Over the last few months I have been searching for a ground for flat up to £195,000 and found one near me in South Norwood I like with open areas and transport links in the vicinity, however it only has 61 years on the lease. There is not much else in South Norwood suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan that many years will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of 2 years you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.