Would the conveyancing solicitors that you recommend handle conveyancing in Greenhithe by way of an attended exchange?
We do have a number of conveyancing specialists who can conduct one day exchanges. You should contact us to get a costs illustration and details as to availability.
We were going to get a AIP from Leeds Building Society this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any Greenhithe solicitors on the Leeds Building Society conveyancing panel, or is it better to go independently?
You will need to appoint Greenhithe solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
I have a mortgage with Co-operative for my property in Greenhithe. Conveyancing was finalised some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Co-operative?
Co-operative must be informed of your intention in advance of renting your property as this is likely to be a breach of Co-operative’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Co-operative directly. It should not be necessary to do this via a Co-operative conveyancing panel lawyer.
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 called my Greenhithe building society branch on numerous occasions and was told it does not affect the mortgage offer and they will lend. My Greenhithe conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. Who do I believe?
Provided that the conveyancer is on the lender panel, she or he must adhere to the Council of Mortgage Lenders’ Handbook specifications for the 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.
I have been on the look out for a flat up to £195,000 and found one near me in Greenhithe I like with open areas and railway links in the vicinity, however it only has 52 years on the lease. There is not much else in Greenhithe suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan the remaining unexpired lease term may be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
Am I right to be concerned about brokers that I am dealing with are suggesting a factory type conveyancing firm as opposed to a High Street Greenhithe conveyancing company?
As with lots of service providers, often suggestions from connections can be very helpful. But there are lots of parties with a keen interest in a conveyancing matter; estate agents, financial adviser and mortgage companies might all put forward conveyancers to choose. Sometimes these lawyers might be known to one of the organisations as experts in their field, but sometimes there may be a financial incentive behind the recommendation. You have the discretion to select your own conveyancer. Don't forget that most mortgage providers have an approved list of lawyers you are obliged to use for the mortgage aspect of your house move.
I am using a search engine for the term on line conveyancing in Greenhithe it shows results of numerous solicitorsin the vicinity. With so much choice what is the best way to find the right property lawyer for purchase transaction?
The best way of finding the right conveyancer is through a trusted testimonial, so enquire of colleagues and family who have purchased a property in Greenhithe or a reputable estate agent or financial adviser. Fees for conveyancing in Greenhithe differ, so it's a good idea to obtain at least four estimates from different property lawyers. Dont forget to clarify that the fees are fixed.
I am a negotiator for a long established estate agency in Greenhithe where we have experienced a few leasehold sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Greenhithe conveyancing firms. Please can you shed some light as to whether the owner of a flat can start the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
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.
My wife and I have hit a brick wall in seeking a lease extension in Greenhithe. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to assess the price.
An example of a Lease Extension case for a Greenhithe property is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The number of years remaining on the existing lease(s) was 76 years.