Can the conveyancing solicitors listed on your site carry out auction conveyancing in Wallington?
We know of a few niche lawyers we can put you in touch with those who can conduct auction conveyancing. Wallington is one of our locations in which our lawyers have a presence.
Can you explain why leasehold purchase conveyancing in Wallington costs more?
Wallington leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My house in Wallington is up for sale and I have a purchaser. Will my property lawyer have to be on the Nottingham conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Nottingham conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
How does conveyancing in Wallington differ for new build properties?
Most buyers of new build property in Wallington come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Wallington tend to acquire 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 conveyancing solicitors 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 Wallington or who has acted in the same development.
I am looking for a leasehold apartment up to £245,000 and found one near me in Wallington I like with open areas and railway links nearby, the downside is that it only has 51 years on the lease. There is not much else in Wallington for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan that many years will likely be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
I am a negotiator for a long established estate agent office in Wallington where we have witnessed a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have been given contradictory information from local Wallington conveyancing firms. Please can you shed some light as to whether the seller of a flat can instigate the lease extension process for the buyer?
As long as the seller has owned the lease 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. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
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 purchaser.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Wallington conveyancing firm to represent me?
Most certainly. We can put you in touch with a Wallington conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Wallington property is 21 & 23 Carshalton Grove in May 2009. the Tribunal adopted the figures presented as the premiums payable by the Applicant i.e. a total of £20,750. This case was in relation to 2 flats. The unexpired term was 72 years.