We chose a local lawyer for our conveyancing in Vauxhall recently. Going through the terms of engagement I seeI am responsible for costs even if our purchase doesn't happen. Should I go with them or choose an internet firm offering no-sale-no-fee conveyancing in Vauxhall?
It is usually ‘give and take’ in that if "No Sale No Fee" is offered then the conveyancing charges will generally be uplifted to offset those transactions that abort. You should be mindful that these promotions generally do not protect you from expenditure for instance Vauxhall conveyancing search charges.
I am the registered owner of a freehold house in Vauxhall but nevertheless pay rent, why is this and what is this?
It is rare for properties in Vauxhall and has limited impact for conveyancing in Vauxhall but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
What is the best way to investigate if the solicitor carrying out my conveyancing in Vauxhall is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Clydesdale thus spending £192.00 in another set of legal fees.
Feel free to make the most of the search tool on this site. Please choose the lender and type ‘Vauxhall’ or your location and you will see numerous solicitors located in Vauxhall or near you.
I am currently in the process of buying my council flat in Vauxhall. I have a mortgage agreed with TSB. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
The formalities of my purchase has taken place for my property in Vauxhall. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
RBS have agreed my home loan in principle, my offer on a flat in Vauxhall has been accepted, what happens next?
The property agent will want to be advised as to your solicitor's details (be sure the solicitors are on the lender’s approved list). Call up RBS or the broker and complete any relevant paperwork. RBS will appoint a valuer who will get in contact with the selling agent or vendor to schedule an appointment. Once conducted (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. RBS will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Vauxhall.
How does conveyancing in Vauxhall differ for newly converted properties?
Most buyers of new build property in Vauxhall come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is constructed. This is because builders in Vauxhall usually purchase 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 conveyancing solicitors 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 accustomed to new build conveyancing in Vauxhall or who has acted in the same development.
I am employed by a busy estate agency in Vauxhall where we see a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received contradictory information from local Vauxhall conveyancing solicitors. Can you clarify whether the seller of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
My wife and I have hit a brick wall in seeking a lease extension in Vauxhall. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Vauxhall conveyancing firm who can help.
An example of a Lease Extension decision for a Vauxhall premises 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 related to 2 flats. The unexpired lease term was 56 years.