I'm spending time looking at flats in South Croydon and I am about to put in an offer. Is it too early to have a solicitor in place? I will be getting a home loan with Virgin Money.
It would be wise to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. As you are taking out a mortgage with Virgin Money, ask your prospective lawyers if they are on the Virgin Money conveyancing panel otherwise they can't do the mortgage legal work.
I have a mortgage with HSBC for my property in South Croydon. Conveyancing was finalised months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform HSBC?
You must advise HSBC prior to renting your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will permit you to let 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 HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel lawyer.
Skipton have agreed my mortgage in principle, my offer on a house in South Croydon has been agreed to, now what?
Your property agent will need to be informed of your lawyer's details (make sure the conveyancing practitioners are on the lender’s approved list). Telephone Skipton or the broker and complete any outstanding forms. Skipton will sellect a valuer who will get in touch with the estate agent or owners to schedule an appointment. Once conducted (assuming no problems) it takes on average ten days to receive the mortgage offer. Skipton will issue the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in South Croydon.
My wife and I have a semi-detached Victorian property in South Croydon. Conveyancing lawyer represented me and Accord Mortgages Ltd. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in South Croydon and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with your conveyancing lawyer who conducted the work.
Just had an offer accepted on a new build apartment in South Croydon. 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.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in South Croydon
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
Due to the advice of my in-laws I had a survey completed on a property in South Croydon ahead of retaining solicitors. I have been informed that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies may not give a mortgage on a flying freehold house.
It varies from the lender to lender. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in South Croydon. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to find a conveyancing solicitor for residential conveyancing in South Croydon. I happened to chance upon a site which looks to be the ideal solution If it is possible to get all formalities done via email that would be preferable. Should I be concerned? What are the potential pitfalls?
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?
We expect to complete the disposal of our £375,000 flat in South Croydon on Monday in a week. The management company has quoted £348 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a flat conveyance in South Croydon?
South Croydon conveyancing on leasehold apartments more often than not involves the buyer’s lawyer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address such questions the majority will be willing to assist. They are at liberty to invoice a reasonable charge for answering questions or supplying documentation. There is no set fee. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee invoiced by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, without which the charge is technically not due. Reality however dictates that you have no choice but to pay whatever is demanded if you want to sell the property.
Having spent months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in South Croydon. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to determine the premium.
An example of a Freehold Enfranchisement case for a South Croydon residence 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 remaining number of years on the lease was 78.32 years.