I have todaybecome aware that Action Conveyancing have been shut down. They conducted my conveyancing in Westminster for a purchase of a leasehold flat 10 months ago. How can I check that my home is not still registered in the name of the former proprietor?
The quickest method to check if the property is in your name, you can carry out 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 Westminster conveyancing specialists.
How does conveyancing in Westminster differ for new build properties?
Most buyers of new build premises in Westminster contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Westminster tend to acquire the real estate, 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 conveyancers 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 Westminster or who has acted in the same development.
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Westminster I like with amenity areas and transport links nearby, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Westminster suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you need a home loan that many years will be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this.
How do I use the search tool to select a conveyancing solicitor in Westminster on the approved list for my lender?
1st select a bank such as Nationwide Building Society, Virgin Money or Platform Home Loans Ltd then specify your preferred area for instance Westminster. Conveyancing practices in Westminster and across England and Wales will then be shown.
We have reached the end of our tether in trying to purchase the freehold in Westminster. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We are happy to put you in touch with a Westminster conveyancing firm who can help.
An example of a Lease Extension case for a Westminster residence is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case affected 2 flats. The remaining number of years on the lease was 56 years.
What makes a Westminster lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Westminster. Most leases are drafted differently and drafting errors can result in certain sections are erroneous. The following missing provisions could result in a defective lease:
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A provision for the recovery of money spent for the benefit of another party.
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Accord Mortgages Ltd, Norwich and Peterborough Building Society, and TSB all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the buyer to pull out.
Me and my husband have just had an offer accepted on a property and had meeting on Wednesday with Nationwide for the mortgage. They warned me that when it comes to selecting a conveyancing practitioner that unless they are on their approved panel of property lawyers then we will be subject to an a further fee of £200. This is because they will then have to appoint a solicitor to act on their behalf as well as the one we appoint on our behalf and we will be on the hook for their invoice. I have asked Nationwide to send me with a list so I can request quotes only from their approved lawyers but was told they dont have such a list to hand over. Is there a simple way of finding out who is on a lender panel?
You can enquire of Nationwide what their panel criteria is for a conveyancer.Then ask the lawyer of your choice whether they fit that criteria and have they acted on loans for Nationwide in the past. Where the answer to those is yes, then just double check with Nationwide. Another option is to make use of our search facility and we may be able to find you a property lawyer in Westminster on the panel for Nationwide.