The sellers of the property we are looking to purchase have instructed a conveyancing solicitor in Eltham who has suggested a preliminary agreement with a payment of 5k. Are such agreements sensible?
This type of contract isn't frequently used in Eltham, conveyancers are often inclined to veer clients away from them as they detract from focusing on the main conveyancing focus and if you end up having your deposit forfeited then the lawyer at best left with an upset client and at worst a litigious one. Secondly, there is no guarantee that just because the proprietor has signed a lock out agreement they will sell to you. They may breach the contract if they receive a big enough offer to do so because an aggrieved purchaser with the benefit of a exclusivity agreement will still be obliged show losses as a consequence of the breach and this may not equate the financial upside that the owner may secure by breaking the contract, no matter how morally unworthy it undoubtedly is.
Is there a reason why leasehold purchase conveyancing in Eltham is more expensive?
The conveyancing fees on a leasehold premises in Eltham is frequently higher as compared to a freehold property. This is because there is an amount of supplemental time required in communicating with the freeholder and managing agents to collate the information concerning whether the rent and service charges have been cleared and whether there are any major works due in the foreseeable future on repairs or maintenance of the building.
Two weeks ago we had a mortgage agreed in principle with Coventry BS. Eltham conveyancing practitioners are instructed. What is the average time that one could expect to receive a mortgage offer from Coventry BS?
Some lenders take longer than others. Have Coventry BS completed the survey? Have you informed Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am expecting a AIP from Yorkshire BS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Eltham solicitors on the Yorkshire BS conveyancing panel, or is it better to go independently?
You will need to appoint Eltham solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
I was told three weeks ago that my mortgage has been agreed to by Santander. Is it usual for Santander to only issue the offer once my solicitor in Eltham is approved on their conveyancing panel? Santander have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Santander to deal with your lawyer's application to be on the Santander conveyancing panel. There's no guarantee that your solicitor will be accepted.
We are downsizing from our property in Eltham and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any local conveyancer would know this is not the case. For the life of me I don't know why the buyers are using an online conveyancing outfit rather than a conveyancing solicitor in Eltham. Having lived in Eltham for 5 years we know of no issue. Is it a good idea to contact our local Authority to get confirmation need.
It would appear that you have a conveyancing solicitor already. What do they say? You must check with 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 illness)
My wife and I purchased a leasehold house in Eltham. Conveyancing and National Westminster Bank mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Eltham who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of HMLR to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Eltham conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am the registered owner of a ground-floor 1960’s flat in Eltham. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
if there is a missing landlord or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the LVT to judgment on the price payable.
An example of a Lease Extension decision for a Eltham premises is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.
I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently discovered that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Eltham. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the implications of buying a leasehold house in Eltham ?
The majority of houses in Eltham are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Eltham so you should seriously consider shopping around for a Eltham conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a contribution towards the upkeep of the estate where the property is located on an estate. Your lawyer will appraise you on the various issues.