Me and my fiance are acquiring a maisonette in Woking. My property lawyer is not listed on the lender approved list. Is it possible for me to use my Woking conveyancing solicitor notwithstanding that they are excluded from the lender list of approved lawyers?
You will need to use a conveyancer to complete the legal work required when you require a mortgage to buy your property. The property lawyer will carry out all the necessary legal checks on the property, ensuring that you will be properly registered as the owner and ensure that all the required mortgage documentation is dealt with. You could select a Woking solicitor of your choosing. However, if the conveyancing practitioner appointed is not a member of the mortgage company conveyancing panel supplemental costs will arise as separate legal representation will be required by them. Lender panel applications may be submitted, so provided your solicitor has not previously applied for membership they should take the chance to apply.
My relative advised me that where I am purchasing in Woking I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Woking conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Woking around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Woking Education with maps and statistics, Local Amenities and other useful data about Woking.
The deeds to my house can not be found. The lawyers who dealt with the conveyancing in Woking 5 years ago are no longer around. Will I be able to sell the house?
As long as the title is registered the details of your proprietorship will be held by the Land Registry with a Title Number. It is easy to conduct a search at the Land Registry, locate your house and order up to date copies of the property title for a small fee. If the property is Leasehold then the Land Registry will in most cases hold a file copy of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
I have been pointed in your direction by numerous estate agents in Woking to choose a solicitor on your site. Is there a financial inducement for Estate Agents to offer your services rather than alternative conveyancing organisations?
We refuse to give any commission for sending work in our direction. We found it would be just too difficult a fee as members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am tempted by the attractive purchase price for a couple of maisonettes in Woking both have about fifty years unexpired on the lease term. Will this present a problem?
There is no doubt about it. A leasehold flat in Woking is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it adversely affects the marketability of the premises. The majority of purchasers and banks, leases with less than eighty years become less and less marketable. 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 property 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 property 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 Woking conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 the agreed 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.
Leasehold Conveyancing in Woking - A selection of Questions you should ask Prior to buying
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Is the freehold owned collectively by the leaseholders? The answer will be important as a) areas can cause problems in the block as the communal areas may begin to deteriorate if repairs remain unpaid b) if the leasehold owners have a dispute with the running of the building you will want to know about it How many of the leaseholders are in arrears for their service charge payments?
My husband and I are searching for an affordable conveyancing solicitor in Woking to purchase a apartment. I am aware of the chance of getting ripped off and there are so many Woking conveyancing organisations out there...who do I opt for?
If you’ve never used a conveyancer previously, a trustworthy recommendation from relatives or friends is a preferable starting point and is often a good barometer of quality. Alternatively, view the Law Society’s online directory of conveyancing solicitors in Woking or use our search facility to select a conveyancing lawyer in Woking.