Can you help? My Rotherhithe conveyancer is advising me that he is legally obliged toapply for Rotherhithe conveyancing searches stemming from the fact thatthe firm are on the Nat Westsolicitor panel. Is my solicitor right?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a bank your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Rotherhithe conveyancing searches.
Various web forums that I have come across warn that are the primary cause of obstruction in Rotherhithe conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of slowing down conveyancing in Rotherhithe.
The estate agent has sent us the confirmation of our purchase of a new build flat in Rotherhithe. 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 legal work.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Rotherhithe
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan. 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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I have been on the look out for a flat up to £235,500 and identified one close by in Rotherhithe I like with a park and railway links nearby, the downside is that it only has 51 years on the lease. There is not much else in Rotherhithe for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage that many years will be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
I'm converting the mortgage on my current home to a BTL loan with Alliance & Leicester and intend to use the remaining equity as a deposit on further property. The area we are interested in is Rotherhithe. Will your lawyers be able to act for both sets of mortgage companies and link together the two deals?
Make use of our search tool on this site to ensure that the lawyers are approved by both lenders. Having checked that they are the lawyer will be able to simultaneously deal with the two deals but you should have a chat with you solicitor and communicate your desired outcome and requirements.
I am on look out for some leasehold conveyancing in Rotherhithe. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and most are in Rotherhithe - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the proprietor of a second floor flat in Rotherhithe. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
if there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the price payable.
An example of a Freehold Enfranchisement decision for a Rotherhithe residence is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The unexpired lease term was 101.61 years.