I am expecting a offer of a home loan from Santander. I intend to employ the services of a Licensed Conveyancer in Avery Hill. Does the Santander Solicitor panel allow for conveyancers regulated by the CLC?
The Santander approved solicitor list is, like many other lenders, associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I am the registered owner of a freehold residence in Avery Hill yet pay rent, why is this and what is this?
It is rare for properties in Avery Hill and has limited impact for conveyancing in Avery Hill but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
My conveyancer has informed me that defective lease insurance is needed on my purchase. What is the level of cover for Avery Hill conveyancing?
The appropriate level of defective lease indemnity insurance should be dictated by who your lender. It would differ for example between Nationwide Building Society and Bank of Scotland. Conveyancing practitioners as opposed to members of the public take out such insurances.
I am expecting a OIP from Co-operative this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Co-operative recommend any Avery Hill solicitors on the Co-operative conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Avery Hill solicitors independently although you'll need to choose one on the Co-operative conveyancing panel. The solicitor represents both you and Co-operative through the process.
It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Avery Hill bank branch on numerous occasions and was reassured it wasn't an issue and they would lend. My Avery Hill conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The lawyer must follow the CML Handbook section two provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Me and my brother have a 4 bedroom Edwardian house in Avery Hill. Conveyancing lawyer represented me and Godiva Mortgages Ltd. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold under the exact same address. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Avery Hill and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing lawyer who conducted the conveyancing.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Avery Hill. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Avery Hill
-
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision. Please confirm the Lease plans are surveyor prepared. 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. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
I am looking for a flat up to £195,000 and found one near me in Avery Hill I like with amenity areas and station nearby, the downside is that it's only got 51 years on the lease. There is not much else in Avery Hill in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage the shortness of the lease will be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.