Having sold my house in Upper Norwood last January yet the purchaser is telephoning every few hours complaining that their conveyancer is waiting to hear from mine. What should my lawyer have done following completion?
Following your house sale your solicitor should send the transfer deeds and all supplemental paperwork to the purchaser's lawyers. Where appropriate, your conveyancer must also send confirmation that the mortgage has been discharged to the purchasers solicitors. There is unlikely to be post completion procedures unique to conveyancing in Upper Norwood.
Can you help - my lawyer says that lack of planning permission insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Upper Norwood?
The right level of lack of planning permission indemnity insurance depends on your lender. It would differ for example between Santander and The Mortgage Works. Conveyancing solicitors as opposed to borrowers take out such policies.
I have a mortgage with Virgin Money for my property in Upper Norwood. Conveyancing has been completed some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Virgin Money?
You must advise Virgin Money before letting out your property as this is likely to be a breach of Virgin Money’s mortgage conditions. It may be that Virgin Money will allow you to rent 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 solicitor.
I am selling my house. I had a double glazing fitted in April 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, HSBC are being pedantic. The Upper Norwood solicitor who is on the HSBC conveyancing panel is saying indemnity insurance will be fine but HSBC are requiring 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.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Upper Norwood. Conveyancing is daunting 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 conveyancing.
Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Upper Norwood
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please supply a car parking plan. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. There must be mutual enforceability of lessee’s covenants.
I am looking for a leasehold apartment up to £305k and found one close by in Upper Norwood I like with a park and station in the vicinity, however it only has 51 years on the lease. I can't really find anything else in Upper Norwood for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan the shortness of the lease will be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
I need to retain a conveyancing solicitor for my conveyancing in Upper Norwood. I have discover a site which appears to be the perfect offering If there is a chance to get all the legals completed via email 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 tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Upper Norwood conveyancing firm to help?
You certainly can. We are happy to put you in touch with a Upper Norwood conveyancing firm who can help.
An example of a Lease Extension case for a Upper Norwood premises 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 was in relation to 1 flat. The unexpired residue of the current lease was 26.38 years.
Are there common problems that you see in leases for Upper Norwood properties?
There is nothing unique about leasehold conveyancing in Upper Norwood. Most leases are drafted differently and legal mistakes in the legal wording can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
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A provision for the recovery of money spent for the benefit of another party. A duty to insure the building
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Coventry Building Society, and TSB all have express 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 purchaser to withdraw.