We are buying a apartment in Selhurst. It might be a silly question but how we can trust a solicitor? At some point we will need to send money into their account. What protection do 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 happen to be the only recipient of my late grandmother’s will and I have everything in my name alone, including the house in Selhurst. The Selhurst property was put into my name in August. I now wish to sell up. I do know about the CML 6 month 'rule', meaning my proprietorship may be regarded the same way as if I'd bought the property in August. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. many banks would take a sensible view as this obligation is chiefly there to pick up on the purchase and immediately sell or the quick reselling of properties.
We are getting a further advance on our home loan from Leeds Building Society as we want to conduct improvements to our house in Selhurst. Are we obliged to appoint a high street Selhurst solicitor on the Leeds Building Society conveyancing panel to deal with the paperwork?
Leeds Building Society would not normally require firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society list.
My partner and I are selling our property in Selhurst and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any local conveyancer would know this is not the case. It does beg the question why the buyers are using an internet conveyancing outfit rather than a conveyancing solicitor in Selhurst. Having lived in Selhurst for three years we know that this is a non issue. Is it a good idea to contact our local Authority to get clarification that the buyers are looking for.
It would appear that you have a conveyancing firm already. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
I have recentlydiscovered that Arc property Solicitors have closed. They carried out my conveyancing in Selhurst for a purchase of a leasehold flat 18 months ago. How can I check that the property is in my name in the name of the former proprietor?
The easiest method to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Selhurst conveyancing specialists.
I am purchasing my first flat in Selhurst with a loan from Chelsea Building Society. The developers refused to budge the price so I negotiated five thousand pounds worth of extras instead. The sale representative told me not disclose to my solicitor about this deal as it would jeopardize my mortgage with the lender. Should I keep quiet?.
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.
Over the last few months I have been searching for a flat up to £195,000 and found one round the corner in Selhurst I like with open areas and station in the vicinity, the downside is that it only has 52 remaining years left on the lease. I can't really find anything else in Selhurst in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan that many years may be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
I am employed by a long established estate agent office in Selhurst where we have witnessed a few flat sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Selhurst conveyancing firms. Could you clarify whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. 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 purchaser.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Selhurst conveyancing firm to represent me?
if there is a missing landlord or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to determine the price payable.
An example of a Lease Extension matter before the tribunal for a Selhurst residence is Flats 55, 67 & 70 Melbourne Court Anerley Road in July 2013. The tribunal calculated that the premium for the extended lease at £48,366.00 for at 55, and £88,329.00 for ats 67 and 70 combined. This case affected 1 flat. The unexpired residue of the current lease was 26.38 years.