Me and my partner are buying a 1 bedroom apartment in Sanderstead with a mortgage. We would like to retain our Sanderstead lawyer, but the mortgage company advise he's not on their "panel". We have to appoint one of the bank panel conveyancing practices or retain our Sanderstead conveyancing practitioner as well as pay for one of their panel lawyers to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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 Sanderstead conveyancing solicitor to apply to be on the conveyancing panel.
Me and my partner are acquiring our first house. Our solicitor has calledto check if we would like to take out supplemental conveyancing searches. Frankly we in the dark as to what's needed for conveyancing in Sanderstead
The range of Sanderstead conveyancing searches depends entirely on the premises, the location, the likelihood of any of these risks, your knowledge of the locality and risks, your general approach to risk. What is important is that you properly understand what information each search could provide. Then you can make a decision if you personally think you need that information. If in doubt, ask the property lawyer to advise.
2 months have elapsed following my purchase conveyancing in Sanderstead completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. 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 asset 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.
How does conveyancing in Sanderstead differ for newly converted properties?
Most buyers of new build residence in Sanderstead contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in Sanderstead typically buy the site, 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 conveyancers 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 Sanderstead or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Sanderstead is where the house is located. Can you shed any light on this issue?
Flying freeholds in Sanderstead are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Sanderstead you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sanderstead may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I work for a busy estate agent office in Sanderstead where we have experienced a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Sanderstead conveyancing solicitors. Could you confirm whether the owner of a flat can commence the lease extension process 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
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 have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Sanderstead conveyancing firm to represent me?
if there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to make a decision on the price.
An example of a Freehold Enfranchisement case for a Sanderstead premises is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case affected 6 flats. The unexpired term was 78.32 years.