My partner and I are buying a newly constructed apartment in Esher and my conveyancer is informing me that she has to the bank to disclose incentives from the builder. I am under pressure to exchange contracts and I have no desire to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Completed the sale of my flat in Esher last March but my buyer keeps e-mailing daily to moan that her solicitor needs to hear from mine. What are the post completion sale formalities following completion?
Following your house sale your solicitor should deliver the transfer documentation and all additional paperwork to the buyer’s solicitors. Where relevant, your conveyancer must also confirm that the mortgage has been discharged to the purchasers lawyers. There are no post completion formalities peculiar conveyancing in Esher.
We're in Esher, First time buyers buying with a mortgage (lender is HSBC , and our solicitor is on the HSBC conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the HSBC conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am buying a new build apartment in Esher. Conveyancing is daunting 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 conveyancing.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Esher
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Please confirm the Lease plans are surveyor prepared. Please supply a car parking plan. 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
How difficult is it to transfer to a new conveyancer as I have to retain a firm on the Virgin Money conveyancing list. I had appointed a local conveyancing solicitor in Esher five minutes from me but he is not approved by Virgin Money
We will our best to assist in finding you a conveyancing solicitor in Esher on the Virgin Money panel. Please note that the property lawyers that we list do not pay us a referral fee if you instruct them and are fully regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Esher. In utilising the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Esher.
I am looking at a couple of apartments in Esher which have in the region of forty five years remaining on the lease term. should I be concerned?
There is no doubt about it. A leasehold flat in Esher is a wasting asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the value of the property. The majority of purchasers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Esher conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I am the leaseholder of a second floor flat in Esher. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
Most certainly. We can put you in touch with a Esher conveyancing firm who can help.
An example of a Lease Extension case for a Esher flat is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.