The property market in Waltham is heating up. What can I do to expedite the conveyancing process?
In the event that the seller is applying pressure to complete it is highly recommended that your conveyancer is familiar with the location as they will make use of local contacts and knowledge. It is possible that they could have handled otherhomes in the same neighbourhood. You would be best advised to use a Waltham conveyancing lawyer. Second, be sure that the conveyancing firm is on the on the approved list for your mortgage company. It is believed that just under twenty per cent of Waltham conveyancing deals are suspended or derailed after finding out that a purchaser’s solicitor was not on their mortgage lender’s member panel. This can often result in the home move being delayed by as much as 21 days. It is estimated that this issue affects approximately one hundred thousand home sales every year. Many Waltham conveyancing firms can not act for certain mortgage companies so do check as early as possible.
Completion of my purchase has taken place for my property in Waltham. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
After months of negotiation I have agreed a price on an apartment in Waltham. My mortgage broker recommended their conveyancers. I paid an on account payment of £200. A couple of days later, the lawyer contacted me embarrassingly acknowledging that they were not on the Co-operative conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Co-operative panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Planning on purchasing a house in Waltham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Barclays conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Waltham property lawyer is on the Barclays conveyancing panel.
Despite weeks of looking the Title Certificate and documents to my home can not be found. The conveyancers who conducted the conveyancing in Waltham 4 years ago have long since closed. What do I do?
Gone are the days when you need to have the physical deeds to evidence that you are the owner of your registered land or premises, given that the Land Registry hold details of all registered land or property electronically.
How does conveyancing in Waltham differ for new build properties?
Most buyers of new build property in Waltham contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is constructed. This is because developers in Waltham 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 property lawyers 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 accustomed to new build conveyancing in Waltham or who has acted in the same development.
I'm remortgaging my current house to a buy to let mortgage with Chelsea Building Society and I will use the ballance of the raised equity towards a second property. The area we are looking at is Waltham. Will your solicitors be able to act for both sets of mortgage companies and tie in the two deals?
Make use of our search tool on this site to ensure that the conveyancers are approved by both lenders. On the basis that they are your solicitor will be able to tie up the two transactions but you should talk with you lawyer and make apparent your expectations and needs.
Last June I purchased a leasehold flat in Waltham. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a split level flat in Waltham, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Waltham with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced annually. The lease terminates on 21st October 2080
With only 55 years left to run the likely cost is going to span between £31,400 and £36,200 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.