Me and my fiance are acquiring a ground floor flat in Warlingham. My Conveyancer has never been on on the mortgage company solicitor panel. Is it possible for me to continue with my Warlingham conveyancing solicitor notwithstanding that they are not on the bank list of approved lawyers?
One must use a lawyer to deal with the formalities if you take out a loan to purchase your home. They will carry out all the relevant legal checks on the property, make sure that you will be properly registered as the owner and ensure that all the required mortgage paperwork is dealt with. One may instruct a Warlingham lawyer of your choosing. Nevertheless, where the lawyer appointed is not a member of the lender approved list supplemental charges will be incurred as separate legal representation will be need by the bank. Lender panel applications can be submitted, so provided your conveyancer has not in the past sought membership they should do so.
Can I use your services to recommend a Conveyancing solicitor in Warlingham even if I’m not buying or disposing of a house, for example if I wish to acquire an office in Warlingham with a mortgage from The Mortgage Works?
The service is mainly utilised to find domestic conveyancing solicitors in Warlingham but we have set out towards the bottom of this page some Warlingham commercial conveyancing firms. You will need to speak with the company directly to check if they are also authorised to represent The Mortgage Works
We are hoping to buy a 2 bedroom flat in Warlingham with a residential mortgage from Skipton Building Society.We like our Warlingham conveyancing lawyer but Skipton Building Society informed us he's not listed on their approved list of member firms. we are left little option but to use a Skipton Building Society panel lawyer or keep our local solicitor and pay for a Skipton Building Society panel lawyer to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage issued to you contains various provisions, a common one being that conveyancers must be on the Skipton Building Society conveyancing panel. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Skipton Building Society
Due to the guidance of my in-laws I had a survey completed on a property in Warlingham before appointing solicitors. I have been informed that there is a flying freehold overhang to the house. Our surveyor has said that some mortgage companies tend refuse to grant a mortgage on such a premises.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. Should you wish to call us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Warlingham. Conveyancing may be slightly more expensive based on your lender's requirements.
My husband and I are 18 days into a freehold purchase having been recommend to solicitors by the estate agent to carry out the conveyancing in Warlingham. I am am very disappointed with the level of service. Could you help me find new lawyers?
A lawyer would have to be really bad to suggest changing them. Has the mortgage offer been sent? If so you will need to make them aware of the new contact details and ensure the mortgage documents are re-issued. Your conveyancer needs to be on the mortgage company approved list to avoid supplemental fees and frustration. That should be your starting point. Our find a solicitor tool will help you find a bank approved solicitor for your conveyancing in Warlingham
I am tempted by the attractive purchase price for a two maisonettes in Warlingham both have about fifty years remaining on the lease term. Will this present a problem?
There is no doubt about it. A leasehold flat in Warlingham is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. The majority of purchasers and mortgage companies, leases with under 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Warlingham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Following months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Warlingham. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the price payable.
An example of a Freehold Enfranchisement case for a Warlingham residence is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case related to 6 flats. The unexpired lease term was 78.32 years.