Completed the sale of my flat in Epsom last July but our buyer keeps whats apping every few hours to say their conveyancer needs to hear from mine. What should have happened following completion?
Following your house sale your lawyer is committed to forward the transfer documentation and all supplemental paperwork to the buyer’s solicitors. Where appropriate, your lawyer should also evidence that the mortgage has been discharged to the buyers conveyancers. There is unlikely to be post completion requirements peculiar conveyancing in Epsom.
I am about to put an offer on a leasehold property in Epsom. The estate agents assure me that it is normal for flats in Epsom to have less than 75 years left on the lease. I am taking out a loan with Virgin. Will the property be mortgageable given that the lease has Seventy One years unexpired.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 28/3/2024 the requirements read as follows :
three months have elapsed following my purchase conveyancing in Epsom completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 residence 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 buying my first flat in Epsom with a loan from Birmingham Midshires. The sellers refused to budge the amount so I negotiated £7000 of additionals instead. The house builders rep advised me not reveal to my solicitor about this extras as it will jeopardize 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.
I am in need of some leasehold conveyancing in Epsom. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
If the lease is recorded at the land registry - and most are in Epsom - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the leaseholder of a first flat in Epsom. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?
in cases where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to assess the price payable.
An example of a Lease Extension decision for a Epsom residence is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case related to 1 flat. The unexpired residue of the current lease was 60.43 years.
Developers have recommended to me a conveyancer and I've sought an estimate from them. It's nearly £400 less expensive than my preferred Epsom conveyancer. Should I use them?
Housebuilders frequently have panels of property lawyers who expedite matters and who know the developer’s paperwork and conveyancer. Plenty of developers offer an incentive to choose a preferred solicitor for this reason, any increased charges can be avoided and a developer won't suggest a conveyancing warehouse and run the risk of having the transaction delayed when they require an exchange within a tight deadline. A counter-argument for not opting for the suggested lawyer is that they may prove reluctant to fight for your interests at the risk of alienating the sellers. Where you have concerns that this may be the situation you should remain with your local Epsom conveyancing practitioner.