My bid for a property was accepted at auction in Anerley. Conveyancing is needed. What happens now?
Given that you are now exchanged you now have to find a conveyancing practitioner soon as you are faced with a fast approaching deadline in which to complete the deal. All auction property will have an associated legal set of papers. This will include evidence of title and search results. Where you are dealing with leasehold property the legal pack may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to leasehold premises. You should hand this to your appointed conveyancing solicitor ASAP. You also need to ensure that that you have the requisite funding organised to complete on the on the contractual date .
I recently had an offer agreed on an apartment in Anerley. My financial adviser recommended their conveyancers. I paid an on account payment of £175. Shortly after, the solicitor called me to say that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Our offer on a semi in Anerley has been agreed to, but there is a chain. The vendors have offered on a flat, but it’s not been accepted yet, and are looking at other apartments in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Anerley. What do I do now? When do I get the mortgage application with HSBC started?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur costs too early (mortgage application is approx £1k, then valuation, Anerley conveyancing search fees, etc). First, you must ensure that your property lawyer is on the HSBC approved list. Concerning the subsequent steps this very much dictated by the specifics of your case, attraction to the property and on the state of the market. During a hot market some buyers would apply for the mortgage with HSBC and arrange for the valuation and only if it comes back ok would they ask their solicitor to press on with the conveyancing in Anerley.
What will a local search tell me concerning the house my wife and I buying in Anerley?
Anerley conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company for instance PSG The local search plays a central role in most Anerley conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your property. The search will reveal data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
I am purchasing a new build house in Anerley with the aid of help to buy. The sellers refused to reduce the amount so I negotiated 6k of extras instead. The property agent advised me not to tell my lawyer about this extras as it could put at risk my mortgage with Birmingham Midshires. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Due to the encouragement of my in-laws I had a survey completed on a property in Anerley before appointing lawyers. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some banks may not give a loan on this type of home.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. If you e-mail us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Anerley. Conveyancing may be slightly more expensive based on your lender's requirements.
I am a negotiator for a reputable estate agency in Anerley where we see a few flat sales jeopardised due to short leases. I have received inconsistent advice from local Anerley conveyancing solicitors. Could you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I am the registered owner of a second floor flat in Anerley. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
in cases where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to determine the price.
An example of a Lease Extension matter before the tribunal for a Anerley 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 affected 1 flat. The remaining number of years on the lease was 26.38 years.
Me and my husband are first time buyers just having agreed a price on a property in Anerley, and need to get solicitors lined up. I have made use of the numerous comparison based websites and the fee estimates are from all over the the UK. Is it important to have a Anerley lawyer local to our potential house? We are content to do everything electronically, but I am thinking at some stage we may be required to visit the conveyancing practitioner's office to sign documents?
The lawyer does not have to be in Anerley, but choosing local means that you can attend their offices if needed, by way of example, if a signature is immediately necessary. In addition, a Anerley solicitor have established relationships with local agents and (if the vendor has chosen a local property lawyer) with them, which should help keep things moving faster.