I am expecting a DIP from Nottingham this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nottingham recommend any Mitcham solicitors on the Nottingham conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Mitcham solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
I am selling my apartment. I had a double glazing fitted in April 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, TSB are being pedantic. The Mitcham solicitor who is on the TSB conveyancing panel is saying indemnity insurance will be fine but TSB are insisting on a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Intending to buy a flat in Mitcham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Mitcham solicitor is on the Coventry BS conveyancing panel.
I need some quick conveyancing in Mitcham as I am under an ultimatum to complete inside 4 weeks. A mortgage is not required. Is it possible to escape the need for conveyancing searches to save money and time?
If.Given you are are a mortgage free purchaser you are at free not to do searches although no lawyer would recommend that you don't. Drawing on years of experience of conveyancing in Mitcham the following are instances of issues that can appear and therefore impact future mortgageability: Enforcement Actions, Outstanding Charges, Overdue Grants, Road Schemes,...
I am purchasing my first flat in Mitcham with the aid of help to buy. The sellers refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not reveal to my conveyancer about this side-deal as it will affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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 have been on the look out for a leasehold apartment up to £235,500 and found one close by in Mitcham I like with a park and transport links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Mitcham suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a home loan that many years will be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may 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 term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a great price which is making it all the more appealing. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Mitcham. Conveyancing advisers have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Mitcham ?
Most houses in Mitcham are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Mitcham so you should seriously consider shopping around for a Mitcham conveyancing practitioner and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to carry out alterations. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer should appraise you on the various issues.
I have given up seeking a lease extension in Mitcham. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We can put you in touch with a Mitcham conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Mitcham residence is 50 & 52 Southcroft Road in September 2013. The tribunals own valuation determined that the premium payable should be £29,000 This case affected 2 flats. The remaining number of years on the lease was 86.11 and 60.64.
We are FTB’s just having agreed a price on a property in Mitcham, and are now looking to get solicitors lined up. I have utilised the various comparison based websites and the quotes are from all across the country. Is it critical to have a Mitcham conveyancing practitioner local to your potential new home? I am happy to do everything electronically, but I am thinking at some stage we will need to physically go into the solicitor's office to sign papers?
Usually there is no requirement to attend the office of your conveyancing practitioner, they can post any relevant papers to you, which you can sign and return. Many buyers and sellers choose to instruct a locally based solicitor, but it is not essential for conveyancing in Mitcham.