I can't travel far from New Eltham. Please clarify why all New Eltham lawyers aren't automatically on all lender panels?

Banks normally restrict either the nature or volume of conveyancing solicitors on their panel. A common example of such restriction(s) being that the practice must have two or more partners. In addition to restricting the structure of firm, some lenders made a decision to reduce the number of organisations they use to represent them. You should note that banks have no responsibility for the standard of service given by any New Eltham conveyancing practitioner on their approved list. Mortgage fraud was the primary trigger for the reduction of conveyancing panels a few years ago even though there are conflicting views concerning the extent of solicitor involvement in some of that fraud. Data published by HMLR reveal that thousands of law organisations only transact a couple of conveyances a year. Those advocating conveyancing panel pruning ask why conveyancing firms deserve any entitlement to be listed on a bank panel when it is apparent that property law is not their primary expertise?

I am need of leasehold conveyancing for an apartment in a fairly new development (seven years built) in New Eltham. The vast majority the properties have already been sold. Do I need carry out the conveyancing searches as part of conveyancing in New Eltham?

Conveyancing Searches are a vital link in the New Eltham conveyancing process. There are a large number of search providers delivering New Eltham conveyancing searches, as well straight from the local authority. These are known collectively as personal search providers due to them carrying out, personal searches. Nevertheless, all Local Authority Search conveyancing products have one thing in common - they must secure their information from the local authoritative source.

Is there a reason why leasehold purchase conveyancing in New Eltham is more expensive?

In summary, leasehold conveyancing in New Eltham and elsewhere usually necessitates extra hours of investigation compared to freehold transactions. This includes checking the lease terms, liaising with the landlord concerning serving appropriate notices, procuring current service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first entered into.

Can you provide any advice for leasehold conveyancing in New Eltham with the purpose of speeding up the sale process?

• Much of the delay in leasehold conveyancing in New Eltham can be reduced if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ lawyers.
If you hold a share in a the Management Company, you should make sure that you have the original share document. Obtaining a replacement share certificate can be a time consuming process and delays many a New Eltham home move. If a duplicate share is required, do contact the company officers or managing agents (where applicable) for this sooner rather than later. You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your solicitors. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. It is therefore important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. Many landlords or Management Companies in New Eltham charge for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in New Eltham. If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you installed wooden flooring? Most leases in New Eltham state that internal structural alterations or installing wooden flooring require a licence from the Landlord consenting to such changes. Should you dont have the approvals in place do not contact the landlord without checking with your solicitor before hand.

I am the leaseholder of a second floor flat in New Eltham. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?

Absolutely. We are happy to put you in touch with a New Eltham conveyancing firm who can help.

An example of a Lease Extension case for a New Eltham premises is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case affected 1 flat.

I have just placed an offer on a leasehold flat in New Eltham and the broker that we are dealing with suggested his conveyancing practitioner. She quoted nine hundred pounds excluding VAT and disbursements. Does this sound reasonable?

You should not rely on a single estimate. You should obtain like-for-like quotes for your conveyancing in New Eltham. Then pick one that you are comfortable with and just as important, is on the approved list of the lender that you have applied for a mortgage from.