Completed the sale of my flat in Old Malden last September but my buyer keeps Skype messaging daily to moan that their solicitor needs to hear from mylawyer. What should my lawyer have done following completion?
Following your disposal your solicitor should forward the transfer documentation and all additional paperwork to the buyer’s conveyancer. Depending on the transaction, your conveyancer must also confirm that the mortgage has been repaid to the buyers lawyers. There are no post completion steps specific conveyancing in Old Malden.
I am the sole beneficiary of my late father’s will and I have everything in my name alone, including the my former home in Old Malden. Conveyancing formalities meant that the Land Registry date was in February. I want to move. I understand that there is a CML six month 'rule', which means that my property ownership may be regarded the same way as if I'd bought the property in February. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. Some mortgage companies would take a pragmatic view as this requirement is principally there to capture subsales or the flipping of property.
How can we know in advance if a Old Malden conveyancing solicitor on the Nottingham panel is any good?
When it comes to conveyancing in Old Malden obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor conducting your transaction.
I currently have a mortgage with UBS for my property in Old Malden. Conveyancing has been completed 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform UBS?
You must advise UBS prior to letting out your property as this is likely to be a breach of UBS’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 UBS directly. It should not be necessary to do this via a UBS conveyancing panel lawyer.
I used Arc property Solicitors a few years ago for my conveyancing in Old Malden. Now, I need my documents however the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Old Malden of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
The estate agent has sent us the confirmation of our purchase of a new build flat in Old Malden. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Old Malden
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants.
I need to find a conveyancing solicitor for remortgage conveyancing in Old Malden. I happened to discover a site which appears to be the ideal offering If it is possible to get all this stuff completed via email that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Can you provide any advice for leasehold conveyancing in Old Malden from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Old Malden can be reduced where you get in touch lawyers the minute you market your property and ask them to put together the leasehold information which will be required by the purchasers’ conveyancers. You believe that you know the number of years remaining on your lease but it would be advisable verify this via your conveyancers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If you have had any disputes with your freeholder or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a property where there is an ongoing dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. 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 purchasers, but it is better to reveal the dispute as historic as opposed to unresolved. If you are supposed to have a share in the freehold, you should ensure that you are holding the original share document. Obtaining a re-issued share certificate can be a lengthy process and delays many a Old Malden conveyancing transaction. Where a new share is required, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later. Some Old Malden leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Old Malden. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the LVT to arrive at the price.
An example of a Lease Extension case for a Old Malden flat is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.