It is 10 years ago since I bought my house in Lambeth. Conveyancing lawyers have just been retained on the sale but I am unable to find my title documents. Will this jeopardise the sale?
Don’t worry too much. First there is a chance that the deeds will be retained by your mortgage company or they could be in the possession of the lawyers who acted in the purchase. Secondly in all probability the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. Most conveyancing in Lambeth relates to registered property but in the unlikely event that your home is not registered it is more of a problem but is not insurmountable.
My grandmother passed away six months ago and as sole heir and executor I was left the property in Lambeth. The house had a relatively small loan remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Leeds Building Society, pay off the mortgage. Is this allowed?
If you plan to refinance then Leeds Building Society will require that you use a conveyancer on the Leeds Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Leeds Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Leeds Building Society mortgage is registered as a charge at the Land Registry.
I used Action Conveyancing several years ago for my conveyancing in Lambeth. I now require my papers but the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Lambeth of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Lambeth differ for new build properties?
Most buyers of new build residence in Lambeth contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is finished. This is because builders in Lambeth usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Lambeth or who has acted in the same development.
Over the last few months I have been searching for a flat up to £235,500 and found one near me in Lambeth I like with open areas and transport links in the vicinity, however it's only got 51 years unexpired on the lease. I can't really find anything else in Lambeth suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a home loan the shortness of the lease may be an issue. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
Following years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Lambeth. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing freeholder or where there is dispute 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 judgment on the amount due.
An example of a Lease Extension matter before the tribunal for a Lambeth residence is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case affected 2 flats. The unexpired term was 56 years.
In relation to leasehold conveyancing in Lambeth what are the most frequent lease problems?
There is nothing unique about leasehold conveyancing in Lambeth. All leases are drafted differently and drafting errors can result in certain sections are missing. The following missing provisions could result in a defective lease:
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A provision to repair to or maintain parts of the building
You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Norwich and Peterborough Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.