We have a mortgage agreed in principle with HSBC. Abbey Wood conveyancing practitioners are appointed. What is the average time that one could expect to receive a mortgage offer from HSBC?
There is no definitive answer here. Have HSBC conducted the valuation? Have you informed HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
My fiancee and I are at the point of viewing apartments in Abbey Wood and I am now considering a potential offer. Is it advisable to have a conveyancing practitioner on ‘stand by’? I will be getting a mortgage with Virgin Money.
You should start requesting conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the selling agent. Given that you are obtaining a mortgage with Virgin Money, ask your prospective lawyers if they are on the Virgin Money conveyancing panel otherwise they can't do the mortgage legal work.
After what feels like an age I have had an offer on a flat in Abbey Wood accepted, the vendors do nevertheless have a connected purchase. The vendors have put an offer on a flat, but it’s not yet agreed to, and have viewings of other apartments in the pipeline. I have selected a high street conveyancing solicitor in Abbey Wood. What should be my next step? At what point should I apply for the mortgage with Aldermore?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of one thousand pounds, then survey, Abbey Wood conveyancing search costs, etc). The first thing to do is ensure that your conveyancer is on the Aldermore approved list. Regarding the next steps this very much depends on the uniqueness of your case, attraction to the property and on the state of the market. In a rising market many purchasers would apply for the mortgage with Aldermore and pay for the valuation and only if it was satisfactory would they ask their solicitor to proceed with searches.
I am purchasing a new build house in Abbey Wood with a loan from Alliance & Leicester . The developers refused to budge the price so I negotiated £7000 of additionals instead. The sale representative advised me not to tell my conveyancer about this deal as it may affect my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Abbey Wood is the location of the property. Is there any guidance you can give?
Flying freeholds in Abbey Wood are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Abbey Wood you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Abbey Wood may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
How do I identify a Abbey Wood solicitor on the TSB conveyancing panel? I drive a motor bike and am prepared to travel upto 20kilometers to meet the conveyancer.
You can use the tool on this page. Please select a mortgage company and your location and you will see a number of Abbey Wood conveyancing lawyers located nearest you. We have detailed some Abbey Wood conveyancing firms towards the end of this page and you can call them to see whether they are on the TSB panel
As co-executor for the will of my uncle I am selling a residence in Swansea but live in Abbey Wood. My lawyer (based 260 miles awayrequires that I execute a stat dec before completion. Can you recommend a conveyancing practitioner in Abbey Wood who can witness and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are based in Abbey Wood
My partner and I may need to sub-let our Abbey Wood 1st floor flat for a while due to a new job. We used a Abbey Wood conveyancing firm in 2004 but they have since shut and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease governs relations between the landlord and you the flat owner; in particular, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Abbey Wood do not prevent subletting altogether – such a clause would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I inherited a garden flat in Abbey Wood. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
Most definitely. We can put you in touch with a Abbey Wood conveyancing firm who can help.
An example of a Lease Extension decision for a Abbey Wood residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The remaining number of years on the lease was 76 years.