We are buying a newly constructed apartment in Shooter's Hill and my solicitor is advising me that she is duty bound to the lender to disclose incentives from the builder. I am on a tight deadline to exchange contracts and I would rather not delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Last month we had a mortgage agreed in principle with Virgin Money. Shooter's Hill conveyancing lawyers are instructed. How long does it take for Virgin Money to forward the offer to the conveyancing practitioner?
Some lenders take longer than others. Have Virgin Money conducted the survey? Have you advised Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
About to purchase house in Shooter's Hill. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Shooter's Hill conveyancing practitioner is on the Bank of Ireland conveyancing panel.
Aldermore have agreed my mortgage in principle, my bid on a apartment in Shooter's Hill has been accepted, now what?
Your property agent will need to know who your solicitors are (be sure the solicitors are on the lender’s approved list). Telephone Aldermore or your broker and finalise any appropriate documentation. Aldermore will appoint a valuer who will get in touch with the selling agent or vendor to schedule an appointment. Once conducted (assuming no problems) it takes on average ten days to receive the mortgage offer. Aldermore will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Shooter's Hill.
I've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Shooter's Hill is where the house is located. Can you shed any light on this issue?
Flying freeholds in Shooter's Hill are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Shooter's Hill you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shooter's Hill may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
What does commercial conveyancing in Shooter's Hill cover?
Non domestic conveyancing in Shooter's Hill incorporates a wide array of advice, given by regulated solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
Can you provide any top tips for leasehold conveyancing in Shooter's Hill from the point of view of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Shooter's Hill can be bypassed where you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers. If you hold a share in a the Management Company, you should ensure that you have the original share document. Organising a new share certificate is often a time consuming formality and delays many a Shooter's Hill home move. If a reissued share certificate is necessary, you should approach the company officers or managing agents (where applicable) for this as soon as possible. You may think that you are aware of the number of years left on your lease but you should verify this via your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to where the lease term is under 80 years. It is therefore essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. Some Shooter's Hill leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors.
Following years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Shooter's Hill. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We are happy to put you in touch with a Shooter's Hill conveyancing firm who can help.
An example of a Lease Extension decision for a Shooter's Hill residence is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.
My wife and I intend to purchase our first home in Shooter's Hill. Conveyancing practitioner already instructed. The mortgage adviser pointed out that a survey is not necessary as the house is just 17 years old.
At the very least you should order a Home Buyer's Report. Given the residence was built more than a decade ago the property will not come with a warranty, so you don't want to take a risk. For a property that age with no signs of defects a Home Buyer's report may be sufficient. The report should highlight any apparent problems and suggest additional investigation where appropriate. If there are any signs of problems obtain a full Building Survey from the beginning.