My fiance and I are planning to purchase a flat in Thames View and are in fact using a Thames View conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Godiva Mortgages Ltd have this morning contacted us to inform me that they have now hit a problem as our Thames View conveyancer is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Thames View solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Having sold my house in Thames View last August but my buyer keeps telephoning every few hours to moan that their conveyancer is waiting to hear from mine. What should have happened now that I have sold?
Following your house sale your lawyer should send the transfer documentation and all additional paperwork to the purchaser's lawyers. If applicable, your conveyancer should also evidence that the legal charge in favour of the lender has been discharged to the purchasers solicitors. There is unlikely to be post completion steps specific conveyancing in Thames View.
The estate agent has sent us the confirmation of our purchase of a new build flat in Thames View. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Thames View
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Please confirm the Lease plans are architect prepared. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
Due to the advice of my in-laws I had a survey completed on a property in Thames View prior to instructing conveyancers. I have been told that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies may refuse to issue a loan on such a property.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. If you contact us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Thames View. Conveyancing may be slightly more expensive based on your lender's requirements.
I was advised by a few property agents in Thames View to get a quote from a property lawyer on your site. What’s the financial incentive for Estate Agents to offer your services over and above alternative conveyancing organisations?
We don’t give any financial incentive for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission because members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I today plan to offer on a house that appears to be perfect, at a reasonable figure which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Thames View. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
Most houses in Thames View are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Thames View so you should seriously consider looking for a Thames View conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to carry out alterations. You may also be required to pay a contribution towards the upkeep of the communal areas where the house is located on an estate. Your conveyancer should appraise you on the various issues.
I am the leaseholder of a ground-floor 1950’s flat in Thames View. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
Most definitely. We are happy to put you in touch with a Thames View conveyancing firm who can help.
An example of a Lease Extension case for a Thames View flat is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The number of years remaining on the existing lease(s) was 61.36 years.