Please explain the implications if my solicitor is expelled from the Principality Solicitor panel ahead of completing my conveyancing in Woolwich?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
What does a local search tell me concerning the house my wife and I buying in Woolwich?
Woolwich conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company for example Xpress Legal The local search plays a central part in many a Woolwich conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your new home. The search will provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
Taking into account that I am about to spend £400,000 on a house in Woolwich I wish to talk to a solicitor concerning thehome move prior to appointing the firm. Can this be arranged?
Absolutely - we would be pleased to talk to you we do not take any clients on without you liaising with the solicitor who will be carrying out your conveyancing in Woolwich.There is no ‘factory style conveyancing’ - each client is unique person, not a matter reference. The law firms that we put you in touch with believe that the fees you are quoted for residential conveyancing in Woolwich should be the figure that you are charged.
My husband and I are 17 days into a leasehold purchase having been referred to a firm by the estate agent to execute conveyancing in Woolwich. I am am starting to be disappointed with the quality of service. Could you help me find new lawyers?
They would need to be really poor to suggest replacing them. Has the mortgage offer been issued? If so you must advise them of the new contact details and get the loan are re-issued. Your new solicitor ideally should be on the banks panel to avoid escalating fees and delays. That should be your starting point. Our search tool will assist you in finding a lender approved lawyer for your home move in Woolwich
I am tempted by the attractive purchase price for a couple of flats in Woolwich which have about 50 years left on the lease term. Will this present a problem?
There is no doubt about it. A leasehold apartment in Woolwich is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the value of the property. For most purchasers and banks, leases with less than eighty 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 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 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 Woolwich 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. 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.
I am the leaseholder of a two-bedroom flat in Woolwich. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum payable for the purchase of the freehold?
if there is a missing freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to determine the amount due.
An example of a Lease Extension decision for a Woolwich premises is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case was in relation to 1 flat. The unexpired lease term was 69.77 years.
Been reading online that Woolwich solicitors are more expensive than licensed conveyancers in Woolwich to use when purchasing a property. So is it better if I use a conveyancer or a solicitor if I am purchasing a property in Woolwich.
When it comes to conveyancing in Woolwich the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.