My wife and I are due to exchange buying a property in Mottingham but as a result of damage from some water damage at the property I have managed to agree reparation from the current proprietors of £3k by way of a reduction in the price. I had intended this to be dealt with as part of a side agreement however Barclays are not allowing this. Why were they approached?
Any lawyer being on a Barclays approved list is required to disclose to Barclays of any variations to the purchase price. If you prohibit your lawyer to notify the reduction to Barclays then they would have to discontinue acting for you. In addition, Barclays and you would have to appoint a new conveyancer for your conveyancing in Mottingham.
I purchased a freehold residence in Mottingham but still pay rent, why is this and what is this?
It is rare for properties in Mottingham and has limited impact for conveyancing in Mottingham but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
The formalities of my purchase has taken place for my property in Mottingham. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
It is unclear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Mottingham building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Mottingham conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they would not lend based on their published requirements. Who do I believe?
Your solicitor must comply with the Council of Mortgage Lenders’ Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the bank 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.
Intending to buy a maisonette in Mottingham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Santander conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Mottingham lawyer is on the Santander conveyancing panel.
How does conveyancing in Mottingham differ for newly converted properties?
Most buyers of new build residence in Mottingham contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in Mottingham usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Mottingham or who has acted in the same development.
I opted to have a survey done on a house in Mottingham in advance of appointing conveyancers. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some lenders tend refuse to give a mortgage on such a house.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Mottingham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Mottingham to see if the conveyancing will be more expensive.
Do you have any top tips for leasehold conveyancing in Mottingham from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Mottingham can be bypassed if you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the buyers’ conveyancers. Many landlords or Management Companies in Mottingham levy fees for supplying management packs for a leasehold property. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Mottingham. If there is a history of conflict with your landlord or managing agents it is very important that these are settled prior to the flat being put on the market. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic as opposed to unsettled. If you have the benefit of shareholding in the freehold, you should ensure that you have the original share document. Arranging a new share certificate can be a lengthy formality and frustrates many a Mottingham home move. Where a new share certificate is necessary, do contact the company officers or managing agents (if applicable) for this at the earliest opportunity. If you have carried out any alterations to the property would they have required Landlord’s consent? In particular have you laid down wooden flooring? Most leases in Mottingham state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord approving such changes. If you fail to have the consents in place you should not contact the landlord without checking with your solicitor in advance.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Mottingham conveyancing firm to help?
You certainly can. We are happy to put you in touch with a Mottingham conveyancing firm who can help.
An example of a Lease Extension decision for a Mottingham premises is 49 Woodstock Court Burnt Ash Hill in May 2012. the payment of £64,116 by the leaseholder was the premium which the Tribunal found due for the lease extension in this case. This case was in relation to 1 flat. The unexpired term was 23.26 years.