My IFA says he needs my Botany Bay law firm’s panel reference for the Lloyds conveyancing panel. Can you suggest how I find this out. I have e-mailed my local Botany Bay office but they have not responded to me.
Have you tried calling your Botany Bay conveyancer about this?. Most Botany Bay law practices will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each lender.
My Conveyancer in Botany Bay is not listed on the Godiva Mortgages Ltd Conveyancing Panel. Can I still continue with my family solicitor notwithstanding that they are excluded from the Godiva Mortgages Ltd panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your preferred Botany Bay lawyers but Godiva Mortgages Ltd will need to use a lawyer on their panel. This will result in additional total conveyancing fees and result in delays.
- Find an alternative solicitor to to deal with the purchase, obviously checking they are Convince your conveyancer to do everything within their powers to join the Godiva Mortgages Ltd conveyancing panel
Is it necessary to pay for insurance to cover chancel repairs when buying a property in Botany Bay?
Unless a previous purchase of the premises completed after 12 October 2013 you could assume that conveyancing practitioners carrying out conveyancing in Botany Bay to remain encouraging a chancel search and or insurance against a claim.
I am attracted to a two apartments in Botany Bay which have approximately forty five years unexpired on the leases. should I be concerned?
There is no doubt about it. A leasehold apartment in Botany Bay is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the marketability of the premises. The majority of purchasers and banks, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Botany Bay conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I own a garden flat in Botany Bay. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to decide the price payable.
An example of a Freehold Enfranchisement case for a Botany Bay premises is 23 Beaconsfield Road in July 2013. The Tribunals decided that the amount payable was £31,203 for the freehold. This case affected 2 flats. The unexpired residue of the current lease was 70.31 years.
I'm purchasing a flat in Botany Bay. I have found my conveyancer's company on the CLC list, but I can't find my lawyer's name on the list. Should I be concerned?
Not every individual in the law firm must be listed by the regulator. As long there is someone qualified to 'oversee' the work, the actual day-to-day activity can be undertaken by unlicensed staff.