I am need of leasehold conveyancing for a flat in a relatively new development (seven years old) in Sutton. 95% of the flats have already been sold. Do I need carry out the neighbourhood searches as part of conveyancing in Sutton?
You are putting yourself at risk in not carrying out Sutton conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal requirement to have them, but we would seriously advise in no uncertain terms that your lawyer conducts them. If timings and cost are primary issues you should consider with your solicitor about the options such as contingency insurance available to you
We are buying a property and need a conveyancing solicitor in Sutton who is on the Lloyds conveyancing panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Lloyds . We don't recommend any particular firms conducting conveyancing in Sutton.
I am the only recipient of my late mum's will with all property in now in my sole name, including the my former home in Sutton. The Sutton property was put into my name in October. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', meaning my property ownership may be regarded the same way as though I had purchased the property in October. Is the property unsalable for six months?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. How sensible a view mortgage companies take of it, depend on the mortgage company as this requirement primarily exists to capture subsales or the quick reselling of property.
About to purchase apartment in Sutton. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Santander 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 Sutton property lawyer is on the Santander conveyancing panel.
Aldermore have agreed my mortgage in principle, my bid on a apartment in Sutton has been accepted, what are the next steps?
The estate agent will need to be advised as to your conveyancing practitioner's details (ensure that the solicitors are on the bank’s panel). Contact Aldermore or your broker and finish off any relevant documentation. Aldermore will appoint a valuer who will get in contact with the estate agent or vendor to arrange an appointment. Once conducted (assuming no problems) it takes on average a week to get a mortgage offer. Aldermore will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Sutton.
It has been four months since my purchase conveyancing in Sutton took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
If all goes to plan we aim to complete our sale of a £325,000 flat in Sutton next week. The freeholder has quoted £336 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Sutton?
Sutton conveyancing on leasehold flats normally requires the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries the majority will be willing to do so. They are at liberty to invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, otherwise the charge is technically not due. In reality you have no choice but to pay whatever is requested of you should you wish to sell the property.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Sutton conveyancing firm to assist?
Where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the LVT to decide the amount due.
An example of a Freehold Enfranchisement case for a Sutton premises 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 related to 2 flats. The unexpired residue of the current lease was 66.67 years.
Do I stop my mortgage payments with Lloyds as soon as a completion date for my home sale in Sutton has been set?
No, you should continue paying any mortgage sums to Lloyds until the mortgage is redeemed from the proceeds of sale as part of your Sutton conveyancing.