We were just about to sign contracts for a leasehold flat in Denham. We have hit a stumbling block. Our loan offer with Santander expires on 7/4/2025 but the sellers are suggesting a completion date of 9/4/2025. Is it possible to extend the mortgage expiry date?
The best person to address this issue is your solicitors who is in a position to calculate if they better off negotiating with the bank, seller’s conveyancers, selling agents or conceivably all three taking into account the circumstances your transaction to date.
Can you point me to a directory of Lloyds panel solicitors in Denham on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lending institutions make their panel listings open the public online. If you are seeking to appoint a Denham conveyancer on the Lloyds please use our tool.
is it true that all Denham solicitor firms on the TSB conveyancing panel are governed by the SRA?
As solicitors, in order to be on the TSB approved list of solicitors they would need to be regulated by the SRA. The majority of lenders do permit licenced conveyancers on their panel and in that case the organisation would be governed by the Council of Licensed Conveyancers.
Can I be sure that the Denham conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Denham seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer conducting your conveyancing.
Should my conveyancer be making enquiries concerning flooding as part of the conveyancing in Denham.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Denham. Some people will buy a house in Denham, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, however there are a various checks that may be carried out by the purchaser or by their lawyers which will give them a better understanding of the risks in Denham. The standard completed inquiry forms sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the seller to discover whether the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the vendor, then a buyer could commence a legal claim for losses resulting from an incorrect response. A buyer’s lawyers may also conduct an environmental search. This should disclose whether there is any known flood risk. If so, further inquiries will need to be made.
2 months have gone by since my purchase conveyancing in Denham completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am purchasing my first flat in Denham with a loan from Bank of Ireland. The developers would not reduce the amount so I negotiated £7000 of extras instead. The sale representative advised me not to tell my lawyer about this deal as it would put at risk my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Do you have any top tips for leasehold conveyancing in Denham with the aim of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Denham can be bypassed where you appoint lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information needed by the buyers’ conveyancers. If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you installed wooden flooring? Denham leases often stipulate that internal structural changes or addition of wooden flooring require a licence issued by the Landlord consenting to such alterations. If you fail to have the approvals in place you should not contact the landlord without contacting your lawyer in advance. If you are supposed to have a share in the Management Company, you should ensure that you hold the original share document. Arranging a replacement share certificate can be a lengthy process and frustrates many a Denham conveyancing deal. If a reissued share is required, you should approach the company officers or managing agents (where applicable) for this as soon as possible. The majority of landlords or Management Companies in Denham levy fees for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Denham.
We have reached the end of our tether in negotiating a lease extension in Denham. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the Leasehold Valuation Tribunal to decide the premium.
An example of a Lease Extension case for a Denham premises is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case was in relation to 3 flats. The remaining number of years on the lease was 71 years.