I plan on buying an apartment in Greenhithe. My Solicitor is not on the lender conveyancing panel. Can I still appoint my Greenhithe conveyancing solicitor even though they are excluded from the bank panel of approved conveyancing solicitors?
You must instruct a lawyer to deal with the formalities when you require a mortgage to buy your home. They will carry out all the relevant investigations on the property, ensuring that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is dealt with. You may appoint a Greenhithe property lawyer of your choosing. However, where the conveyancing practitioner selected is not a member of the mortgage company solicitor panel further charges will be levied as separate legal representation will be need by the mortgage company. Conveyancing panel applications may be submitted, so if your solicitor has not in the past applied for membership they can do so.
Is it the case that all Greenhithe CQS (Conveyancing Quality Scheme) solicitors are on the Bank of Ireland conveyancing panel?
Some major banks and building societies now use CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
Last month we had a mortgage agreed in principle with HSBC. Greenhithe conveyancing practitioners were chosen. What is the average time that one could expect to receive a mortgage offer from HSBC?
There is no definitive answer here. Have HSBC conducted the survey? Have you informed HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I was told three weeks ago that my mortgage has been agreed to by Barclays. Is it usual for Barclays to only issue the offer once my solicitor in Greenhithe is approved on their conveyancing panel? Barclays have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
My partner and I are downsizing from our house in Greenhithe and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. A high street Greenhithe conveyancer would know this is not the case. For the life of me I don't know why the buyers instructed an online conveyancing firm as opposed to a conveyancing solicitor in Greenhithe. We have lived in Greenhithe for 4 years we know that this is a non issue. Is it a good idea to contact our local Authority to seek confirmation that there is no issue.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
The estate agent has sent us the confirmation of our purchase of a new build flat in Greenhithe. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Greenhithe
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I have been on the look out for a flat up to £235,500 and found one round the corner in Greenhithe I like with open areas and station nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Greenhithe in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan that many years may be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
I work for a busy estate agent office in Greenhithe where we have witnessed a number of flat sales derailed as a result of leases having less than 80 years remaining. I have received conflicting advice from local Greenhithe conveyancing firms. Please can you confirm whether the vendor of a flat can commence the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder 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 own a second floor flat in Greenhithe. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
in cases where there is a absentee freeholder 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 Leasehold Valuation Tribunal to determine the price payable.
An example of a Lease Extension matter before the tribunal for a Greenhithe residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The unexpired term was 76 years.