As a FTB what is the most important piece of guidance you can give me regarding purchase conveyancing in Elmers End?
You may not hear this from too many lawyers but conveyancing in Elmers End and elsewhere in South East London is often a confrontational process. Put another way, when it comes to conveyancing there exists lots of room for confrontation between you and others involved in the ownership transfer. E.g., the seller, selling agent and sometimes the lender. Appointing a law firm for your conveyancing in Elmers End an important selection as your conveyancer is your adviser, and is the SOLE party in the legal process whose responsibility is to look after your best interests and to keep you safe.
There is a distinct emergence of a "blame" culture- someone must be at fault for the process being so protracted. You your first instinct should be to trust your conveyancer ahead of the other parties when it comes to the legal assignment of property.
My brother-in-law has suggested I instruct a conveyancing solicitor in Elmers End. I need to find out whether they are on the Aldermore conveyancing panel. Can you assist?
You should phone your solicitor and ask them if they are on the lender panel. Otherwise please call Aldermore who may be able to help.
I have been told that property searches are the number one cause of hinderance in Elmers End house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of slowing down conveyancing in Elmers End.
I am buying a new build house in Elmers End benefiting from help to buy. The builders would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not disclose to my lawyer about the deal as it may jeopardize my mortgage with the bank. Is this normal?.
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.
I'm converting the mortgage on my existing home to a buy to let loan with Britannia and intend to use the remaining equity as a deposit on another house. The neighborhood we are interested in is Elmers End. Will your conveyancers be able to act for both sets of mortgage companies and tie in the two deals?
Make use of our search tool on this page to be sure that the solicitors are approved by both banks. Having checked that they are the conveyancer should be able to simultaneously deal with the two conveyancing matters but you should talk with you solicitor and specify your expectations and requirements.
I am employed by a reputable estate agent office in Elmers End where we see a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given inconsistent advice from local Elmers End conveyancing solicitors. Could you confirm whether the seller of a flat can initiate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I am the registered owner of a ground floor flat in Elmers End. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum due for a lease extension?
You certainly can. We are happy to put you in touch with a Elmers End conveyancing firm who can help.
An example of a Lease Extension decision for a Elmers End flat is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case affected 1 flat. The unexpired residue of the current lease was 26.38 years.