My lawyer has discovered a a legal deficiency with the lease for the apartment we are purchasing in Waltham. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will pay for it. Our property lawyer has advised that he must check that the mortgage company is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the bank are the client. The appropriate lender provisions must be adhered to.
Can I use your services to find a Conveyancing solicitor in Waltham even where I’m not buying or selling a house, for example where I intend to buy an office in Waltham with a loan from The Mortgage Works?
Our search tool is mainly there to find residential conveyancing solicitors in Waltham but we have listed towards the end of this page a few Waltham commercial conveyancing firms. You should speak with the firm directly to check if they can also act for The Mortgage Works
I just acquired a flat at auction in Waltham. Conveyancing is required. What are my next steps?
Having for all intents and purposes signed on the dotted line you will need to hire the services of a conveyancing lawyer quickly as you are faced with a fast approaching deadline in which to complete the deal. Every auction property should have an associated legal set of papers. This should include most,if not all of the documents that your lawyer requires. If you have purchased leasehold premises the auction pack may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to leasehold premises. You need to pass this on to the lawyer working for you ASAP. You also need to ensure that that you have the requisite funding organised to complete the transaction on the set completion date.
I am planning to move house in October. Will my conveyancing solicitor liaise with the removal company on the completion day. As an aside, can you recommend a removal company in Waltham. Conveyancing firm was found prior to coming across this site.
On the afternoon of completion you can collect the keys from the estate agent however this can only occur once the vendors lawyers confirm to the agent that they acknowledge receipt of the completion payment and the keys can be passed over. Subsequently you can advise the removal company that they can start moving you in. We do not suggest a specific removal company but can help you choose a residential property solicitor in Waltham or a lawyer with expertise in conveyancing in Waltham.
Leeds Building Society have agreed my mortgage in principle, my bid on a property in Waltham has been accepted, what happens next?
Your property agent will need to be informed of your conveyancing practitioner's details (ensure that the conveyancers are on the bank’s panel). Call up Leeds Building Society or the financial adviser and finish off any appropriate forms. Leeds Building Society will instruct a valuer who will get in touch with the selling agent or vendor to book an appointment. Once carried out (assuming no problems) it takes approximately ten days to receive the mortgage offer. Leeds Building Society will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Waltham.
My relative recommended that if I am buying in Waltham I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Waltham conveyancing searches. It is not a small report of more than thirty pages, listing and detailing significant information about Waltham around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Waltham Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Waltham Education with plans and statistics, Local Amenities and other useful data about Waltham.
My cousin has suggested that I instruct his lawyers for conveyancing in Waltham. Should I use them?
No doubt the ideal way to choose a conveyancing solicitor is to get feedback from friends or family who have actually used the firm that you are considering.
I own a leasehold house in Waltham. Conveyancing and Bank of Scotland mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Waltham who acted for me is not around. What should I do?
The first thing you should do is make enquiries of HMLR to be sure that this person is indeed the new freeholder. There is no need to incur the fees of a Waltham conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I acquired a leasehold flat in Waltham, conveyancing formalities finalised in 2003. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar flats in Waltham with a long lease are worth £191,000. The ground rent is £55 levied per year. The lease comes to an end on 21st October 2079
You have 54 years remaining on your lease we estimate the premium for your lease extension to range between £31,400 and £36,200 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.