I am in a contract race with another buyer for a property in Hammersmith. What can I do to expedite the legal process?
First, If you are under pressure for your conveyancing we would recommend that your solicitor is familiar with the area as they will benefit local connections and know-how. It is even conceivable that they may have conducted previousproperties in the same neighbourhood. You would be best advised to use a Hammersmith conveyancing firm. In addition, make sure that the lawyer is on the on the approved list for your mortgage company. It is said that 18% of Hammersmith conveyancing deals are frustrated or jeopardised after discovering a purchaser’s solicitor was not on their banks list of approved solicitors. This can often result in the transaction being delayed by almost three weeks. It is claimed that this issue affects approximately one hundred thousand home moves annually. Most Hammersmith conveyancing firms can not represent certain banks so do check as early as possible.
We are purchasing a 3 bedroom apartment in Hammersmith with a mortgage from Godiva Mortgages Ltd.We like our Hammersmith conveyancing solicitor but Godiva Mortgages Ltd advised that she’s not listed on their "panel". We have to appoint a Godiva Mortgages Ltd panel solicitor or retain our high street solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The loan issued to you contains terms and conditions, one of which will be that conveyancers needs to be on the Godiva Mortgages Ltd conveyancing panel. in the past, most lenders had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Godiva Mortgages Ltd
This question may be naive but I am new to the home buying as FTB of a ground floor flat in Hammersmith. Do I receive the keys to the property on completion from my solicitor? If this is the case, I will use a local conveyancing solicitor in Hammersmith?
On the day of completion you do not need to go to the conveyancers office in Hammersmith. Conveyancing lawyers for you will transfer the completion advance to the seller's lawyers, and once they have received this, you should be called to collect the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
My wife and I have organised a further advance on our mortgage from Lloyds as we want to carry out improvements to our home in Hammersmith. Do we need to choose a nearby Hammersmith solicitor on the Lloyds conveyancing panel to deal with the legals?
Lloyds would not normally appoint firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Lloyds panel.
My wife and I are spending time viewing apartments in Hammersmith and I am about to put in an offer. Should I already have a property lawyer in place at this point? I am planning to take a mortgage with Barclays.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. Given that you are taking out a mortgage with Barclays, make sure you remember to check that your lawyer is on the Barclays conveyancing panel.
My husband and I are new to the buying process - had an offer accepted, but the property agent has warned us that the owners will only issue a contract if we use the agent's recommended solicitors as they need an ‘expedited deal’. My instinct tells me that we should use a family conveyancer who is familiar with conveyancing in Hammersmith
We suspect that the seller is not behind this requirement. If they desire ‘a quick sale', alienating a serious buyer is not the way to achieve this. Contact the vendors directly and make sure they understand (a)you are genuine buyers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you intend to use your own,trusted Hammersmith conveyancing firm - rather thanthose that will earn the negotiator at the agency a commission or hit his conveyancing targets set by senior management.
I am a negotiator for a long established estate agent office in Hammersmith where we have experienced a few flat sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Hammersmith conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can start the lease extension formalities for the buyer?
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 at the same time as completion of the disposal of the property.
Alternatively, it may be possible 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 buyer.
I inherited a ground floor flat in Hammersmith. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
in cases where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to calculate the price payable.
An example of a Freehold Enfranchisement case for a Hammersmith flat is 19 Crisp Road in June 2009. Following a vesting order (Under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993) The tribunal determined that the premium payable for the acquisition of the freehold was £33,756,apportioned as to£12,285 for the lower at and £21,471for the upper fat. This case was in relation to 2 flats. The unexpired term as at the valuation date was 68.32 years.
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Hammersmith. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
Most houses in Hammersmith are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Hammersmith in which case you should be shopping around for a Hammersmith conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is located on an estate. Your lawyer should advise you fully on all the issues.