I have given 2 months notice to my current landlord and have to leave my let out flat in Wallington by the end of next month. Conveyancing on my purchase has just started. How realistic is it to complete in 5 weeks as I wish to avoid having to find temporary accommodation?
The normal practice is not to provide notice on a rental until exchange of contracts has taken place. If you have not already done so, update to your conveyancer and request that they cajole the sellers solicitors, try to get a realistic time scale from them that everyone will look to achieve
I am considering remortgaging my property in Wallington, does my lawyer need to be on the TSB Solicitor panel?
In theory, you could use a solicitor that is not on the TSB conveyancing panel, but TSB would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
If you had a top tip for choosing a conveyancing solicitor in Wallington what would it be?
Do not opt for the lowest Wallington conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
When it comes to lenders such as Kent Reliance, do Wallington conveyancers have to pay an annual charge to be on the list of approved solicitors?
We are not aware of any lender fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I'm in the process of looking at flats in Wallington and I am now considering a potential offer. Is it too early to have a solicitor in place? I am planning to take a mortgage with Aldermore.
It would be sensible to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. Given that you are getting a mortgage with Aldermore, make sure you remember to check that your lawyer is on the Aldermore conveyancing panel.
3 months have elapsed following my purchase conveyancing in Wallington took place. I have checked the Land Registry website which shows that I paid £200,000 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.
We're first time buyers - agreed a price, but the property agent informed us that the owners will only move forward if we use their recommended solicitors as they are insisting on a ‘quick sale’. Our preferred option is to instruct a family conveyancer used to conveyancing in Wallington
It is unlikely the sellers are driving this. If they require ‘a quick sale', taking such a hostile approach to a serious purchaser is is going to put the whole deal at risk. Avoid the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)but you will continue to use your own,trusted Wallington conveyancing lawyers - rather thanthe ones that will earn their negotiator at the agency a referral fee or meet his conveyancing targets set by corporate headquarters.
I work for a reputable estate agency in Wallington where we have witnessed a number of flat sales jeopardised as a result of short leases. I have received conflicting advice from local Wallington conveyancing firms. Can you confirm whether the vendor of a flat can initiate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
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 buyer.
Despite our best endeavours, we have been unsuccessful in seeking a lease extension in Wallington. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to calculate the price.
An example of a Freehold Enfranchisement decision for a Wallington flat is 21 & 23 Carshalton Grove in May 2009. the Tribunal adopted the figures presented as the premiums payable by the Applicant i.e. a total of £20,750. This case affected 2 flats. The number of years remaining on the existing lease(s) was 72 years.