My mortgage broker has asked me for my New Addington solicitor’s panel member for the Santander conveyancing panel. What is the best way to find this out. I have contacted my local New Addington office but they have not responded to me.
You are best placed to get this information from your New Addington property lawyer . They should have a central record lender panel numbers.
Will my conveyancer be raising questions concerning flooding during the conveyancing in New Addington.
The risk of flooding is if increasing concern for solicitors conducting conveyancing in New Addington. There are those who acquire a property in New Addington, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, however there are a number of searches that can be undertaken by the purchaser or on a buyer’s behalf which will give them a better understanding of the risks in New Addington. The standard property information forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the vendor to discover whether the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the vendor, then a purchaser may commence a compensation claim stemming from an inaccurate reply. A purchaser’s lawyers will also order an environmental report. This should higlight if there is any known flood risk. If so, additional investigations will need to be carried out.
4 months have gone by following my purchase conveyancing in New Addington completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Just had an offer accepted on a new build apartment in New Addington. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in New Addington
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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.
Due to the guidance of my in-laws I had a survey completed on a house in New Addington before appointing lawyers. I have been advised that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies will not give a loan on this type of property.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. If you call us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in New Addington. Conveyancing will be smoother if you use a solicitor in New Addington especially if they are acquainted with such properties in New Addington.
I am looking at a two flats in New Addington which have approximately forty five years unexpired on the leases. Do I need to be concerned?
There are plenty of short leases in New Addington. The lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the value of the lease deteriorates and it becomes more costly to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage companies less inclined to grant a loan on such properties. Lease extension can be a difficult process. We recommend you seek professional help from a solicitor and surveyor with experience in this field.
My wife and I have hit a brick wall in trying to purchase the freehold in New Addington. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We can put you in touch with a New Addington conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a New Addington residence is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case was in relation to 6 flats. The number of years remaining on the existing lease(s) was 78.32 years.