We are intending to buy a 1 bedroom apartment in South Norwood with a mortgage. We have a South Norwood conveyancer, but the lender says he's not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or continue with our South Norwood property lawyer as well as pay for one of their panel lawyers to represent them. We feel that this is inequitable; can we not require that the lender use our South Norwood conveyancing practitioner ?

Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders 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. Another option that might be available is for your South Norwood conveyancing solicitor to apply to be on the conveyancing panel.

Do the conveyancing practitioners that you recommend handle auction conveyancing in South Norwood?

There are a few niche lawyers we can put you in touch with those specialising in auction conveyancing. South Norwood is one of the many locations in which our lawyers cover.

I can see plenty of information on this site regarding conveyancing in South Norwood but can you isolate your top tip for choosing the right conveyancer in South Norwood

We would encourage you not to base your choice on the cheapest South Norwood conveyancing fees. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.

What is the difference between a licensed conveyancer and conveyancing solicitor in South Norwood

There are two types of lawyers who can perform conveyancing in South Norwood namely licenced conveyancers or solicitors. Both professionals handle the legal services that required to complete the sale or acquisition of property. Both are required to execute South Norwood conveyancing to the same standards and guidelines so you can be sure that your conveyancing will be professionally administered and that the requisite procedures will be appropriately attended to.

Is it the case that all South Norwood CQS (Conveyancing Quality Scheme) solicitors are on the Coventry BS conveyancing panel?

It is true that some lenders now make use of CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.

My husband and I are a fortnight into a leasehold purchase having been recommend to solicitors by the high street agent to perform conveyancing in South Norwood. We are not happy. Could you help me find new solicitors?

They would need to be really bad in order to consider replacing them. Has the loan offer been issued? If so you need to advise them of the new lawyer and get the offer are re-issued. Your solicitor ideally should be on the mortgage company panel to avoid escalating fees and complications. So that should be your first question of the new solicitors. Our search tool will help you find a lender approved solicitor for your conveyancing in South Norwood

I am tempted by the attractive purchase price for a couple of apartments in South Norwood both have in the region of forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?

There is no doubt about it. A leasehold apartment in South Norwood is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the salability of the premises. The majority of purchasers and lenders, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property 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 premises 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 South Norwood 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. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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.

Despite our best efforts, we have been unsuccessful in negotiating a lease extension in South Norwood. Can this matter be resolved via the Leasehold Valuation Tribunal?

Where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the price payable.

An example of a Lease Extension case for a South Norwood property is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case was in relation to 1 flat. The unexpired lease term was 26.38 years.