My wife and I are intending to buy a 2 bedroom apartment in Blackheath with a mortgage. We have a Blackheath conveyancer, but the lender says he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or keep our Blackheath property lawyer as well as pay for one of their panel firms to act for them. This feels very unfair; are we not able to insist that the bank use our Blackheath property lawyer ?
No, not really. 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 Blackheath conveyancing solicitor to apply to be on the conveyancing panel.
three months have elapsed since my purchase conveyancing in Blackheath completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one round the corner in Blackheath I like with open areas and railway links nearby, the downside is that it's only got 61 years on the lease. There is not much else in Blackheath in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan that many years will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
In scouring the world wide web for the term cheap conveyancing in Blackheath it reveals numerous solicitorsin the vicinity. With so much choice what is the best way to find the right solicitor for me?
The preferential way of choosing the right conveyancer is through a trusted recommendation, so enquire of friends and relatives who have bought a property in Blackheath or a respected estate agent or financial adviser. Charges for conveyancing in Blackheath vary, so it's advisable to secure a minimum of three estimates from different solicitors. Dont forget to clarify that the costs are assured not to increase.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Blackheath. Conveyancing advisers have are about to be instructed. Will they explain the issues?
The majority of houses in Blackheath are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in Blackheath so you should seriously consider shopping around for a Blackheath conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your solicitor will appraise you on the various issues.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Blackheath conveyancing firm to help?
Absolutely. We are happy to put you in touch with a Blackheath conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Blackheath residence is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case related to 2 flats. The unexpired lease term was 72 years.
I need to assess costs for conveyancing in Blackheath from various conveyancer and choose one. Am I right to get them to sit tight until I a suitable apartment to buy.
You should wait to get your property lawyer to open a file and order searches after the sales memorandum has been sent by the estate agent particularly as Blackheath conveyancing searches are a couple of hundred pounds.