Is it possible for conveyancing in Downe to be done in less than a month?
In a situation where the seller is applying a tight deadline for your conveyancing we would recommend that your conveyancer is familiar with the location as they will benefit local contacts and know-how. It is even conceivable that they would have conducted otherhomes in the same road. You would be best advised to use a Downe conveyancing lawyer. Second, double check that the conveyancing firm is on the on the approved list for your mortgage company. It is claimed that 18% of Downe conveyancing transactions are held up or derailed after discovering a purchaser’s solicitor was not on their mortgage lender’s member panel. In many cases this discovery resulted in the legal transfer of property being delayed by as much as three weeks. It is claimed that this issue impacts in the region of 100,000 home sales annually. Almost all Downe conveyancing practices can not represent certain banks so do check as early as possible.
Forgive me if this question is silly but I am unseasoned as FTB of a garden flat in Downe. Do I collect the keys to the house on completion from my solicitor? If this is the case, I will use a High Street conveyancing solicitor in Downe?
On the day of completion you do not need to attend the conveyancers office in Downe. Conveyancing lawyers for you will electronically transfer the completion advance to the vendor’s solicitors, and shortly after the monies have arrived, you will be invited to pick up the keys from the selling Agents and start moving into the property. Usually this happens early afternoon.
I am buying a property in Downe. A rare aspect is that the roof has a solar panel. Nationwide have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Nationwide your lawyer must follow the conveyancing instructions set out in Part two of UK Finance Lenders’ Handbook for Nationwide. The CML Handbook stipulates minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Nationwide where a lease fails to meet these specifications. The requirements relate to the installation of panels on properties nationwide and is not restricted to Downe.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Downe bank branch on a couple of occasions and was told they are content with the situation and they would lend. My Downe conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The solicitor has to follow the Council of Mortgage Lenders’ Handbook Part 2 provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender 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.
Various web forums that I have come across warn that are the main reason for obstruction in Downe house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any holding up conveyancing in Downe.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a straight forward, no chain conveyancing. Downe is where the house is located. Can you shed any light on this issue?
Flying freeholds in Downe are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Downe you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Downe may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Can you provide any top tips for leasehold conveyancing in Downe from the perspective of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Downe can be reduced if you get in touch lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation needed by the buyers’ solicitors. If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Downe state that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Should you fail to have the consents to hand you should not contact the landlord without checking with your lawyer first. If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Obtaining a duplicate share certificate is often a lengthy process and delays many a Downe conveyancing transaction. If a duplicate share certificate is required, you should approach the company officers or managing agents (if applicable) for this as soon as possible. The majority of landlords or Management Companies in Downe levy fees for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Downe.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Downe conveyancing firm to help?
in cases where there is a missing landlord or if there is disagreement 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 First-tier Tribunal (Property Chamber) to determine the price payable.
An example of a Lease Extension decision for a Downe residence is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case was in relation to 1 flat. The unexpired residue of the current lease was 50.57 years.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the mortgage company conveyancing panel. My lawyer has said that they are on the mortgage company approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the mortgage company conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the mortgage company solicitor panel.