We are about to exchange contracts for a ground floor flat in Balham. We have hit a stumbling block. Our mortgage offer with Birmingham Midshires expires on 6/12/2021 but the vendors are suggesting a completion date of 8/12/2021. Is it possible to prolong the loan offer?
The best person to deal with your issue is your lawyer who will hopefully determine whether they should be discussing with the bank, vendor’s conveyancers, estate agents or indeed all three taking into account what has gone on in your transaction to date.
I am currently in the process of buying my council flat in Balham. I have a mortgage agreed with UBS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use 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 UBS, you will need to appoint a solicitor on the UBS conveyancing panel.
I was told three weeks ago that my mortgage has been agreed to by Santander. Is it usual for Santander to only issue the offer once my solicitor in Balham is approved on their conveyancing panel? Santander have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Santander to deal with your lawyer's application to be on the Santander conveyancing panel. There's no guarantee that your solicitor will be accepted.
After shopping around on the internet I have found a Balham lawyer having made sure that they are on the Yorkshire BS conveyancing panel. Does my lawyer arrange the survey of the property?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Balham postcode. As you are getting a mortgage with Yorkshire BS, you could contact them to see if they have a list of approved surveyors in Balham.
Will our solicitor be asking questions concerning flooding during the conveyancing in Balham.
Flooding is a growing risk for lawyers conducting conveyancing in Balham. Some people will purchase a house in Balham, fully expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, however there are a numerous checks that can be initiated by the buyer or by their conveyancers which will figure out the risks in Balham. The conventional set of completed inquiry forms supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) includes a standard question of the owner to find out if the premises has suffered from flooding. In the event that flooding has previously occurred which is not notified by the owner, then a buyer may commence a compensation claim resulting from an inaccurate answer. A purchaser’s lawyers may also commission an environmental report. This will indicate if there is any known flood risk. If so, additional investigations should be conducted.
I have recentlydiscovered that Stirling Law have been shut down. They carried out my conveyancing in Balham for a purchase of a freehold house 9 months ago. How can I establish that the property is registered correctly in the name of the former proprietor?
The quickest method to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Balham conveyancing specialists.
The estate agent has sent us the confirmation of our purchase of a new build flat in Balham. Conveyancing is a frightening process 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 may expect your new-build leasehold conveyancing in Balham
Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
There are only Fifty years left on my flat in Balham. I now want to extend my lease but my freeholder is absent. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to track down the landlord. On the whole an enquiry agent would be useful to try and locate and prepare a report to be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court overseeing Balham.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Balham conveyancing firm to help?
Absolutely. We are happy to put you in touch with a Balham conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Balham premises is First Floor Flat 152a Ramsden Road in June 2009. The net result of the tribunals calculation produced a premium payable of £23,975. This case affected 1 flat. The unexpired term was 56.67 years.