I am about to put an offer on a leasehold flat in Deptford. The selling agents assure me that it is the norm for flats in Deptford to have less than 75 years left on the lease. I am getting a mortgage with Platform. Will the property be mortgageable given that the lease has 72 years left.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 16/8/2019 the requirements read as follows :
Does a directory service exist listing Aldermore panel solicitors in Deptford on the UK Finance Lenders’ Handbook Website?
No. There is no such tool on the CML or Building Society Association websites. Very few lenders make their panel listings open the public online. Where you are in need of a Deptford property lawyer on the Aldermore please make the most of our tool.
The mortgage over my property is with HSBC for my property in Deptford. Conveyancing has been completed some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform HSBC?
You must advise HSBC in advance of letting out your property as this is likely to be a breach of HSBC’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel lawyer.
About to purchase house in Deptford. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Principality conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Deptford conveyancer is on the Principality conveyancing panel.
My relative suggested that where I am purchasing in Deptford I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes quoted for as part of the standard Deptford conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about Deptford around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Deptford Education with plans and statistics, Local Amenities and other useful information regarding Deptford.
My wife and I own a renovated Edwardian house in Deptford. Conveyancing solicitor represented me and Coventry Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold with the exact same property. Is it worth asking Coventry Building Society to clarify?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Deptford and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing lawyer who conducted the conveyancing.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a quick, chain free conveyancing. Deptford is where the house is located. Can you offer any assistance?
Flying freeholds in Deptford are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Deptford you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Deptford 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 property.
I am looking to sell my house. My past conveyancers has retired. I am in need of a recommendation of a conveyancing firm. I happen to live in Deptford if that makes things easier.
Please use our search tool to help you choose a solicitor for your conveyancing in Deptford. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.