I selected a local solicitor for my conveyancing in Fulham last week. Reviewing the Terms and Conditions it is apparent thatI am on the hook for costs even where the transaction does not complete. Would I be best advised to appoint an on-line firm promoting no-sale-no-fee conveyancing in Fulham?
It is usually ‘give and take’ in that if "No Completion No Fee" is advertised then the fee levels will tend to be be higher to counteract the transactions that do not go ahead. Dont forget that these promotions generally do not protect you from outlay for instance Fulham conveyancing search fees.
We're in Fulham, FTBs buying with a mortgage (lender is Leeds Building Society , and our lawyer is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor 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.
When it comes to lenders such as Skipton, do Fulham lawyers incur an annual charge to be on the list of approved solicitors?
We are not aware of any lender fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
We previously instructed conveyancing lawyers locally in Fulham on the UBS solicitor approved list. They are now charging me a further fee for dealing with the UBS mortgage. Is this an additional conveyancing fee set by UBS?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your lawyer may charge a fee for this. The fee is not dictated by UBS but by your Fulham conveyancing practitioner. Numerous firms on the UBS panel will quote ’dealing with mortgage’ fee and others do not.
We have a mortgage agreed in principle with Nationwide. Fulham conveyancing lawyers have been selected. What is the average time that one could expect to receive a mortgage offer from Nationwide?
There is no definitive answer here. Have Nationwide done the survey? Have you informed Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have justbecome aware that Wolstenholmes have been shut down. They conducted my conveyancing in Fulham for a purchase of a leasehold apartment 12 months ago. How can I be sure that my home is in my name in the name of the former proprietor?
The quickest method to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Fulham conveyancing specialists.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a straight forward, chain free conveyancing. Fulham is where the house is located. Is there any guidance you can give?
Flying freeholds in Fulham are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Fulham you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fulham may ascertain 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 property.
I work for a long established estate agency in Fulham where we have witnessed a few leasehold sales jeopardised as a result of short leases. I have been given conflicting advice from local Fulham conveyancing solicitors. Please can you clarify whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a second floor flat in Fulham. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?
if there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to assess the price.
An example of a Freehold Enfranchisement case for a Fulham premises is 66 and 66a Wardo Avenue in November 2012. The Tribunal determined that the sum of £8,048 is payable by the Applicants in respect of the price for the freehold of the property This case affected 2 flats. The number of years remaining on the existing lease(s) was 93 years and 162 years.