Completed the sale of my flat in New Cross last October yet the purchaser is whats apping me to moan that their lawyer needs to hear from mine. What should my lawyer have done following completion?
Following your sale your solicitor should forward the transfer documentation and all of the paperwork to the purchaser's conveyancer. Where appropriate, your lawyer should also confirm that the home loan has been repaid to the buyers conveyancers. There is unlikely to be post completion procedures unique to conveyancing in New Cross.
Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in New Cross. Do I pick up the keys to the house on the completion date from my lawyer? If so, I will appoint a local conveyancing solicitor in New Cross?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the owner’s lawyers, and once they have received this, you will be able to receive the keys from the selling Agents and start moving into the property. This tends to happen early afternoon.
Two weeks ago we had a mortgage agreed in principle with Lloyds. New Cross conveyancing lawyers are appointed. What is the average time that one could expect to receive a mortgage offer from Lloyds?
There is no definitive answer here. Have Lloyds conducted the valuation? Have you informed Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have a mortgage with Kent Reliance for my property in New Cross. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?
You must advise Kent Reliance before letting out your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel solicitor.
About to purchase a new build flat in New Cross. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in New Cross
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Are there any apps to assist me to search for a New Cross law firm on the Norwich and Peterborough Building Society conveyancing panel? I have a car and am prepared to travel upto 10miles to meet the conveyancer.
Feel free to make use of the tool on this website. Please choose the bank and your location and you will see a number of New Cross conveyancing lawyers based on proximity. We have detailed some New Cross conveyancing firms at the bottom of this page and you can telephone them to verify if they are on the Norwich and Peterborough Building Society panel
I am tempted by the attractive purchase price for a couple of maisonettes in New Cross which have in the region of forty five years unexpired on the lease term. should I be concerned?
There are no two ways about it. A leasehold apartment in New Cross is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. For most buyers and lenders, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with New Cross conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a New Cross conveyancing firm to act on my behalf?
Most definitely. We can put you in touch with a New Cross conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a New Cross premises is 41 Endwell Road in March 2013. this matter relateed to the acquisition of the freehold of a mid- terraced Victorian house converted into three separate self-contained dwellings. By an order dated 28/11/2012, Deputy District Judge Cole in the Bromley County Court held that the leaseholders were entitled to acquire the freehold and directed that the premium payable be determined by this Tribunal. The Tribunal assessed the premium to be £14,753 This case related to 3 flats. The unexpired term was 80.01 years.
My partner and I are buying a ground floor flat in New Cross. When we first instructed property lawyer, they told us that they were on all mainstream bank panels. Our financial adviser emailed just now to say that they are not on the Clydesdale approved list. Were it to be true, what should we do? Do we simply find a new property lawyer that is on their approved list or do we pay for separate representation, with Clydesdale appointing their own preferred property lawyer.
Where you are buying a property requiring a mortgage it is standard for the purchaser’s lawyers to also represent the mortgage company. In order to act for a bank or building society a conveyancer has to be on that lender's conveyancing panel. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict conditions which the conveyancing practitioner has to fulfill. Some mortgage companies now require their panel firms to be part of the Law Society’s Conveyancing Quality Scheme. Your conveyancer should contact Clydesdale and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on Clydesdale's conveyancing panel and you may continue to use your own New Cross solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.