I am in need of a property lawyer. Should I go for for an internet conveyancer or a local Croydon conveyancing solicitor?
Existing third party connections are another important factor to consider when choosing conveyancing lawyers. Croydon conveyancers benefit from connections with financial advisers and Croydon, local authorities, surveyors and other conveyancing firms meaning you will move in shortest possible time. Possessing years of insight into the local area is an advantage.
I'm the sole recipient of my late father’s will with all property in now in my sole name, including the house in Croydon. The Croydon property was put into my name in August. I want to move. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship could be considered the same way as though I had purchased the house in August. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. many banks would take a practical view as this clause primarily exists to identify subsales or the quick reselling of properties.
I am currently in the process of buying my council flat in Croydon. I have a mortgage agreed with Lloyds. 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 Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
Aldermore have agreed my home loan in principle, my offer on a property in Croydon has been accepted, what happens next?
Your property agent will wish to know who your solicitors are (make sure the conveyancers are on the bank’s panel). Call up Aldermore or the financial adviser and finish off any appropriate forms. Aldermore will instruct a valuer who will get in touch with the selling agent or owners to schedule an appointment. Once carried out (assuming no problems) it takes approximately a week to receive the mortgage offer. Aldermore will send 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 Croydon.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Croydon?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Croydon. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Croydon I like with open areas and station in the vicinity, the downside is that it only has 51 remaining years left on the lease. There is not much else in Croydon for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the shortness of the lease will be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
My husband and I are novice buyers - had an offer accepted, yet the agent told us that the vendor will only issue a contract if we instruct their recommended solicitors as they need an ‘expedited deal’. My instinct tells me that we should use a high street solicitor who is familiar with conveyancing in Croydon
We suspect that the seller is not behind this request. Should the owner want ‘a quick sale', turning down a genuine buyer is is going to put the whole deal at risk. Bypass the agents and go straight to the owners and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you intend to appoint your preferred Croydon conveyancing solicitors - rather thanthe ones that will provide their estate agent a referral fee or meet his conveyancing thresholds pre-set by senior management.
I own a garden flat in Croydon. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
Absolutely. We are happy to put you in touch with a Croydon conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Croydon property is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case related to 4 flats. The unexpired lease term was 98 years.
Are there common defects that you come across in leases for Croydon properties?
Leasehold conveyancing in Croydon is not unique. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
Service charge per centages that don't add up correctly leaving a shortfall
You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Skipton Building Society, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.