We are about to sign contracts for a leasehold flat in Lampton. We encountered a snag. Our loan offer with Alliance & Leicester expires on 15/7/2019 but the sellers are suggesting a completion date of 17/7/2019. Is it possible to extend the loan offer?
The person best placed to deal with your issue is your conveyancer who will determine whether they corresponding with the lender, seller’s solicitors, estate agents or conceivably all three given the circumstances your house move to date.
We see that you have a post code search directory listing solicitors on the Lloyds conveyancing panel. Do companies pay you a commission if I appoint them for our own conveyancing in Lampton?
We are a listing service only for law firms wishing to communicate if they are on the Lloyds conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Lampton.
My fiance and I decided to purchase a newbuild flat in Lampton with a residential mortgage from Barclays Direct.We would like to retain our Lampton conveyancing practitioner but Barclays Direct advised that he's not listed on their approved list of firms. It seems we have no choice but to instruct a Barclays Direct panel solicitor or retain our high street solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Barclays Direct use our lawyer?
No, not really. The loan issued to you contains terms and conditions, a common one being that conveyancers needs to be on the Barclays Direct approved list. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Barclays Direct
I am buying a new build apartment in Lampton. Conveyancing is daunting 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 legal work.
Here is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Lampton
Please confirm the Lease plans are surveyor prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I am tempted by the attractive purchase price for a two maisonettes in Lampton which have in the region of 50 years left on the lease term. Should I regard a short lease as a deal breaker?
A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the marketability of the lease decreases and it becomes more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a protracted process. We recommend you get professional help from a conveyancer and surveyor with experience in this area.
I am the proprietor of a a ground floor purpose built flat in Lampton. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
in cases where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to determine the price.
An example of a Lease Extension matter before the tribunal for a Lampton flat is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case was in relation to 1 flat. The unexpired term as at the valuation date was 60.45 years.
I have selected a Lampton conveyancing solicitor for our house purchase (novice purchasers) and have noticed in the terms and conditions that they are not overseen by the Financial Conduct Authority. Need I be worried or is that standard with conveyancer?
We can't see why they should be. Most lawyer don't lend money. They should be regulated by the Solicitors Regulation Authority, who dictate specific obligations covering amounts deposited by them.