I am acquiring a flat in Norbury. My Conveyancer is not on the bank solicitor list. Can I still use my Norbury conveyancing solicitor even though they are excluded from the mortgage company list of approved lawyers?

You will need to use a lawyer to complete the formalities when you need a mortgage to purchase your property. The conveyancer will conduct all the essential due diligence on the property, ensuring that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is dealt with. One may select a Norbury solicitor of your choice. Nevertheless, where the property lawyer appointed is not on the mortgage company solicitor panel supplemental costs will be incurred as separate legal representation will be required by them. Lender panel applications may be submitted, so if your solicitor has not in the past sought membership they can do so.

It has been 2 months since my purchase conveyancing in Norbury took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

I'm purchasing my first flat in Norbury benefiting from help to buy. The developers refused to budge the amount so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not to tell my solicitor about this side-deal as it may put at risk my mortgage with the lender. Is this normal?.

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 found one close by in Norbury I like with amenity areas and transport links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Norbury in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?

If you need a home loan the remaining unexpired lease term may be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.

I am the proprietor of a ground floor flat in Norbury. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?

Most certainly. We can put you in touch with a Norbury conveyancing firm who can help.

An example of a Lease Extension decision for a Norbury premises is Flat 12, Newlands Court Streatham Common North in May 2012. the decision of the Tribunal was that the premium payable by the Applicants to the Respondent for the new lease of the Premises be £70,140. This case was in relation to 1 flat. The unexpired term was 23.25 years.

In relation to leasehold conveyancing in Norbury what are the most frequent lease problems?

Leasehold conveyancing in Norbury is not unique. All leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. For example, if your lease is missing any of the following, it could be defective:

Maintenance charge proportions which don’t add up to the correct percentage A duty to insure the building

You could encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Chelsea Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.