IfI was to acquire a straightforward housein Wallington for cash and have no survey and no conveyancing searches how much would I expect to to save on my conveyancing in Wallington?
The only reduction in fees you would make on is the costs for searches. Your lawyer still got to do everything else - money laundering, correspond with the vendors lawyer, SDLT submission, register the property etc. You might save a bit for them not having to register a mortgage but it won't be a lot.
Finally the sale completed on my house in Wallington last June yet the purchaser is whats apping every few hours to moan that their lawyer is waiting to hear from mine. What are the post completion sale legalities following completion?
Following your sale your conveyancer is obliged to forward the transfer deeds and all supplemental paperwork to the purchaser's conveyancer. Depending on the transaction, your conveyancer must also send confirmation that the home loan has been redeemed to the purchasers lawyers. There are no post completion procedures just for conveyancing in Wallington.
I have justdiscovered that Wolstenholmes have closed. They carried out my conveyancing in Wallington for a purchase of a leasehold flat 12 months ago. How can I be sure that my home is not still registered in the name of the previous owner?
The quickest way to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Wallington conveyancing specialists.
I am purchasing a new build house in Wallington with a loan from The Royal Bank of Scotland. The sellers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The estate agent told me not inform my solicitor about the extras as it would adversely affect my loan with The Royal Bank of Scotland. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey done on a property in Wallington in advance of appointing conveyancers. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies may refuse to issue a mortgage on such a house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wallington. Conveyancing may be slightly more expensive based on your lender's requirements.
I work for a reputable estate agency in Wallington where we have experienced a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Wallington conveyancing solicitors. Could you confirm whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as 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 proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, 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 to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Wallington conveyancing firm to represent me?
if there is a missing landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to judgment on the sum to be paid.
An example of a Freehold Enfranchisement decision 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 number of years remaining on the existing lease(s) was 72 years.