Would the conveyancing solicitors listed on your site carry out attended exchange conveyancing in Oval?
We do have a number of conveyancing specialists who can conduct one day exchanges. You should contact us to obtain a conveyancing quote and details as to availability.
We are purchasing a flat in Oval. I might seem paranoid but how we can trust a lawyer? On completion day we have to send funds into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have paid off my mortgage with UBS. I assume I don't need a Oval lawyer on the UBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
UBS have agreed my home loan in principle, my bid on a flat in Oval has been agreed to, what happens next?
The property agent will wish to know who your solicitors are (ensure that the solicitors are on the bank’s approved list). Contact UBS or the financial adviser and finish off any relevant documentation. UBS will appoint a valuer who will get in contact with the selling agent or owners to book an appointment. Once conducted (assuming no problems) it takes about a week to get a mortgage offer. UBS will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Oval.
Should our solicitor be making enquiries concerning flooding as part of the conveyancing in Oval.
Flooding is a growing risk for conveyancers dealing with homes in Oval. There are those who buy a property in Oval, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, however there are a number of checks that can be carried out by the purchaser or by their solicitors which should figure out the risks in Oval. The standard information given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the vendor to determine whether the property has ever been flooded. If flooding has previously occurred and is not notified by the owner, then a purchaser could bring a legal claim for losses resulting from an inaccurate response. The buyer’s lawyers should also conduct an environmental search. This should indicate if there is a recorded flood risk. If so, more detailed investigations will need to be initiated.
I have been on the look out for a flat up to £195,000 and identified one near me in Oval I like with amenity areas and station in the vicinity, however it's only got 52 years unexpired on the lease. There is not much else in Oval suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage that many years will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
Back In 2008, I bought a leasehold flat in Oval. Conveyancing and HSBC Bank mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Oval who acted for me is not around. What should I do?
The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Oval conveyancing firm to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Having spent months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Oval. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to determine the price.
An example of a Lease Extension case for a Oval premises is Ground Floor Flat 39 Bronsart Road in May 2010. Following a vesting order by West London County Court the Leasehold Valuation Tribunal concluded that the price to be paid for the extended lease of the premises was Thirteen Thousand Two hundred pounds (£13,200) in accordance with the valuation. The extended lease was granted for a term of 90 years from the expiry date of the Lease and at a peppercorn ground rent from the date of the vesting order. This case affected 1 flat. The unexpired term was 74.77 years.
Been reading online that Oval solicitors are more expensive than licensed conveyancers in Oval to use when buying a house. So is it better if I use a conveyancer or a solicitor where I am buying a house in Oval.
When it comes to conveyancing in Oval the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.