I can't travel far from Ashtead. What is the rationale as to why all Ashtead solicitors are not on all lender panels?
Even though it may seem unfair for lenders to limit who can act for them, from the public’s or conveyancer’s standpoint, the other side of the coin is that banks are increasingly anxious and feel it crucial to protect them against mortgage fraud. As a result of this concern mortgage companies are limiting their panel of approved conveyancing lawyers to a manageable size.
What is the difference between a licensed conveyancer and conveyancing solicitor in Ashtead
There are two types of lawyers who can do conveyancing in Ashtead namely licenced conveyancers or solicitors. Both professionals handle the legal services that you need to complete the sale or acquisition of property. They are both required to execute Ashtead conveyancing to the same quality and guidelines so you can be sure that your conveyancing will be properly conducted and that the requisite procedures will be suitably followed.
Is there a list of Lloyds panel conveyancers in Ashtead on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lending institutions make their panel listings open the public online. Where you are looking for a Ashtead solicitor on the Lloyds please make the most of our facility.
I currently have a mortgage with Coventry BS for my property in Ashtead. Conveyancing was finalised 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Coventry BS?
You must advise Coventry BS in advance of letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. It may be that Coventry BS will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. It should not be necessary to do this via a Coventry BS conveyancing panel solicitor.
My partner and I are selling our property in Ashtead and according to the buyers it appears that there is a risk of it being built on contaminated land. A local conveyancer would know that there is no such problem. It does beg the question why the buyers instructed a web based conveyancing outfit as opposed to a conveyancing solicitor in Ashtead. Having lived in Ashtead for many years we know of no issue. Is it a good idea to contact our local Authority to obtain clarification that there is no issue.
It sounds as though you may have a conveyancing firm already. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
The estate agent has sent us the confirmation of our purchase of a new build apartment in Ashtead. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Ashtead
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I opted to have a survey done on a property in Ashtead ahead of instructing lawyers. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some banks will refuse to grant a mortgage on such a house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you call us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ashtead. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ashtead to see if the conveyancing costs will increase in light of this.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have subsequently been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Ashtead. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Ashtead ?
The majority of houses in Ashtead are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. We note that you are purchasing in Ashtead so you should seriously consider looking for a Ashtead conveyancing practitioner and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer should advise you fully on all the issues.
I have had difficulty in trying to purchase the freehold in Ashtead. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We are happy to put you in touch with a Ashtead conveyancing firm who can help.
An example of a Lease Extension decision for a Ashtead premises is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 60.43 years.