This question may be naive but I am unseasoned as a first time buyer of a two bedroom flat in Sutton. Do I receive the keys to the house on completion from my solicitor? If this is the case, I will instruct a local conveyancing solicitor in Sutton?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the seller's conveyancers, and once they have received this, you should be invited to receive the keys from the property Agents and start moving into the property. Usually this occurs early afternoon.
I have a mortgage with Virgin Money for my property in Sutton. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Virgin Money?
You must advise Virgin Money prior to letting out your property as this is likely to be a breach of Virgin Money’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. You need not do this via a Virgin Money conveyancing panel firm.
I am due to exchange contracts on my house. I had a double glazing fitted in July 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, HSBC are being a right pain. The Sutton solicitor who is on the HSBC conveyancing panel is happy to accept ‘lack of building regulation’ insurance but HSBC are insisting on a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
About to purchase a new build apartment in Sutton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Sutton
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Please confirm the Lease plans are surveyor prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision.
I am looking for a ground for flat up to £305k and found one round the corner in Sutton I like with open areas and transport links in the vicinity, however it's only got 52 years unexpired on the lease. I can't really find anything else in Sutton in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage the shortness of the lease will likely be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
My business partner and I are intending to take over a lease of an office on the high street. Can you recommend solicitors offering no-move-no charges for commercial conveyancing in Sutton for under 1500k?
We can recommend firms who have an in-depth of experience of commercial conveyancing in Sutton, including the disposal and acquisition of businesses as well as simply premises. Whether you are hoping to acquire or dispose of a shop, pub, restaurant, office, retail premises or a complete business we can find you the right firm. As for the costs this will depend on the structure and terms of the deal. Please provide us with your details or email so as to enable us to supply you with comprehensive commercial conveyancing calculation.
Is it best to appoint a Sutton conveyancing lawyer in close proximity to the house I am buying? An old friend can handle the legal formalities however his firm is located 300miles drive away.
The benefit of a high street Sutton conveyancing firm is that you can drop in to sign documents, present your ID and apply pressure on them where appropriate. They will also have local intelligence which is a plus. That being said it's more important to get someone that will pull out all the stops for you. If you know people who used your friend and on the whole were impressed that must outweigh using an unknown Sutton conveyancing lawyer just because they are round the corner.
I today plan to offer on a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Sutton. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
The majority of houses in Sutton are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Sutton in which case you should be looking for a Sutton conveyancing solicitor and check that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Sutton conveyancing firm to act on my behalf?
Most definitely. We are happy to put you in touch with a Sutton conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Sutton flat is Buchanan Court 39 Vernon Road in April 2010. the Tribunal assessed that the premium payable for the freehold of the block should be £44,000. This case was in relation to 2 flats. The remaining number of years on the lease was 66.67 years.