Please could you suggest a Bank of Scotland sanctioned Nine Elms conveyancing lawyer who can have us moved in within a short deadline? Would it be better to use a local Nine Elms conveyancer or a national conveyancer?
We would be happy to suggest some excellent Nine Elms conveyancing firms. You can also walk up the high street in Nine Elms. Visit some well established law practices and ask to see a conveyancing solicitor for a quote. Explain your deadline together with your reasons and get a commitment on speed. Select the one that appears most efficient.
I am considering applying for a TSB mortgage for purchase of a newly converted (under development) in Nine Elms with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for TSB ?
In theory, you could use a solicitor that is not on the TSB conveyancing panel, but TSB would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Will our conveyancer be raising enquiries regarding flooding as part of the conveyancing in Nine Elms.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Nine Elms. There are those who buy a house in Nine Elms, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, but there are a numerous checks that may be undertaken by the purchaser or by their conveyancers which can figure out the risks in Nine Elms. The standard property information forms supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to find out if the premises has suffered from flooding. In the event that the residence has been flooded in past which is not revealed by the owner, then a purchaser could commence a compensation claim as a result of such an inaccurate reply. The buyer’s solicitors may also commission an enviro report. This will disclose whether there is a recorded flood risk. If so, more detailed investigations will need to be initiated.
I'm purchasing a new build house in Nine Elms with a mortgage from Chelsea Building Society. The builders refused to reduce the amount so I negotiated five thousand pounds worth of extras instead. The sale representative told me not reveal to my solicitor about the extras as it will put at risk my mortgage with Chelsea Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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'm converting the mortgage on my current house to a BTL mortgage with Barclays Direct and intend to use the remaining equity towards another property. The area we are talking about is Nine Elms. Will your lawyers be able to act for the two banks and tie in the transactions?
Make use of our comparison tool on this site to be sure that the conveyancers are approved by both banks. On the basis that they are your conveyancer will be able to connect the two conveyancing matters but you should talk with you lawyer and make clear your expectations and needs.
I work for a reputable estate agent office in Nine Elms where we have experienced a few flat sales jeopardised due to leases having less than 80 years remaining. I have received inconsistent advice from local Nine Elms conveyancing firms. Can you confirm whether the owner of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start 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 to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 buyer.
I am the leaseholder of a two-bedroom flat in Nine Elms. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?
Most certainly. We are happy to put you in touch with a Nine Elms conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Nine Elms residence is 150A Albert Palace Mansions Lurline Gardens in July 2013. The Tribunal determined that the premium payable for the new lease of the subject property was £42,069 This case affected 1 flat. The unexpired term as at the valuation date was 57.06 years.