I am not in a position to travel far from Waltham. What is the rationale as to why all Waltham conveyancers aren't included on all bank panels?
Banks highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for mortgage companies to review their conveyancing panels, which triggered a major policy change in the sector. This resulted in lenders purging less reputable firms off their books of approved conveyancers .
I have 71 years left on my lease and need a lease extension for my apartment in Waltham. Conveyancing solicitors on the Chelsea Building Society panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 20/3/2023 the requirements read as follows :
We are close to exchanging contracts on the sale of our property in Waltham and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any local lawyer would know this is not the case. For the life of me I don't know why the purchasers used an internet conveyancing outfit as opposed to a conveyancing solicitor in Waltham. Having lived in Waltham for many years we know of no issue. Is it a good idea to contact our local Authority to seek clarification need.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Are there restrictive covenants that are commonly identified during conveyancing in Waltham?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Waltham. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a ground for flat up to £305k and identified one near me in Waltham I like with open areas and station nearby, however it's only got 52 years on the lease. I can't really find anything else in Waltham in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
If you need a mortgage the remaining unexpired lease term will be a potential deal breaker. Discount the price by the anticipated 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 ask them to commence the lease extension formalities 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 speak to your conveyancing lawyer concerning this.
I need to instruct a conveyancing solicitor for purchase conveyancing in Waltham. I've discover a site which seems to have the perfect answer If there is a chance to get all formalities done via email that would be preferable. Should I be concerned? What are the potential pitfalls?
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?