We are approaching an exchange on a house in Wandsworth and my mum and dad have sent the 10% deposit to my solicitor. I am now informed that as the deposit has been sent from someone other than me my solicitor needs to disclose this to my mortgage company. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I disclosed to the bank concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your solicitor is duty bound to check with mortgage company to make sure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
We are looking to buy a property and need a conveyancing solicitor in Wandsworth who is on the Bank of Ireland solicitor 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 Bank of Ireland . We don't recommend any particular firms conducting conveyancing in Wandsworth.
What can a local search tell me concerning the house I am purchasing in Wandsworth?
Wandsworth conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company such as Xpress Legal The local search is essential in every Wandsworth conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your new home. The search will reveal information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one round the corner in Wandsworth I like with open areas and transport links nearby, the downside is that it's only got 52 years unexpired on the lease. There is not much else in Wandsworth for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage that many years will likely be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
Taking into account that I am about to spend £400,000 on 3 bedroom house in Wandsworth I wish to have a conversation with the lawyer regarding thehome move in advance of appointing the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor who will be conducting your conveyancing in Wandsworth.There is no ‘factory style conveyancing’ - every client is an important individual, not a matter reference. The solicitors that we put you in touch with believe that the fees you are quoted for your conveyancing in Wandsworth should be the amount on the final invoice that you end up paying.
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Wandsworth conveyancing firm to represent me?
Absolutely. We are happy to put you in touch with a Wandsworth conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Wandsworth flat is 4 Galveston Road in August 2012. The Tribunal determined that the price payable in respect of the purchase of the freehold was £22,650. The Tribunal remited this matter back to the Wandsworth County Court for execution of the freehold Transfer Deed. This case was in relation to 2 flats.
What are the frequently found problems that you see in leases for Wandsworth properties?
There is nothing unique about leasehold conveyancing in Wandsworth. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
A duty to insure the building Service charge per centages that don't add up correctly leaving a shortfall
You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Bank of Scotland, and Bank of Ireland all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.