I am in need of a conveyancer. Do I opt for an online conveyancer as opposed to a local Penge conveyancing lawyer?
Generally conveyancing practitioners in your location will enjoy good alliances with your local authority, which can help with the Penge conveyancing searches that your conveyancer will inevitably need. It also helps if they enjoy existing connections with the Local Land Registry Office your area Penge, other lawyers in the area and Penge Estate Agents.
My grandfather passed away 10 months ago and as sole heir and executor I was left the house in Penge. The house had a small mortgage remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Clydesdale, pay off the mortgage. Is this allowed?
If you plan to re-mortgage then Clydesdale will require that you use a conveyancer on the Clydesdale conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Clydesdale conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Clydesdale mortgage is registered as a charge at the Land Registry.
Should our conveyancer be raising questions concerning flooding as part of the conveyancing in Penge.
Flooding is a growing risk for conveyancers dealing with homes in Penge. There are those who purchase a property in Penge, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, however there are a numerous searches that may be initiated by the purchaser or by their solicitors which should figure out the risks in Penge. The standard completed inquiry forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the owner to determine whether the property has ever been flooded. If flooding has previously occurred and is not notified by the owner, then a purchaser may issue a legal claim for losses as a result of such an incorrect answer. The buyer’s solicitors may also commission an environmental search. This will higlight if there is a recorded flood risk. If so, additional investigations should be carried out.
I opted to have a survey carried out on a house in Penge prior to retaining solicitors. I have been advised that there is a flying freehold element to the house. The surveyor advised that some mortgage companies may refuse to issue a loan on such a house.
It varies from the lender to lender. Santander has different instructions from Halifax. Should you wish to telephone us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Penge. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to find a conveyancing solicitor for leasehold conveyancing in Penge. I happened to stumble across a site which looks to be the perfect answer If there is a chance to get all formalities completed via phone that would be preferable. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I have had difficulty in trying to reach an agreement for a lease extension in Penge. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the price.
An example of a Lease Extension decision for a Penge property is Flats 5, 9, 38 & 40 Blakewood Court Anerley Park in January 2012. the tribunal held that the premiums payable for the new lease sare: FLAT 5:- £7,130 FLAT 9:- £7,860 FLAT 38:- £15,867 FLAT 40: £14,834 This case related to 4 flats.
Are there common defects that you witness in leases for Penge properties?
There is nothing unique about leasehold conveyancing in Penge. Most leases are unique and legal mistakes in the legal wording can result in certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:
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A duty to insure the building A provision for the recovery of money spent for the benefit of another party.
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Royal Bank of Scotland, and Britannia all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to withdraw.