I am acquiring a maisonette in Welling. My lawyer is not on the lender solicitor list. Is it possible for me to continue with my Welling conveyancing solicitor notwithstanding that they are excluded from the lender list of approved lawyers?
One must instruct a conveyancing practitioner to complete the formalities when you take out a loan to buy your home. The property lawyer will carry out all the relevant due diligence on the property, ensuring that you will be registered as proprietor and ensure that all the necessary mortgage documentation is dealt with. One can select a Welling conveyancer of your choice. Nevertheless, if the conveyancer selected is not on the lender approved list additional charges will be incurred as separate legal representation will be required by them. Lender panel applications may be submitted, so where your conveyancer has not historically applied for membership they should take the chance to apply.
I am need of leasehold conveyancing for a flat in a relatively new development (6 years built) in Welling. Almost all the properties have already been occupied. Is it really necessary to order neighbourhood searches for my conveyancing in Welling?
You are opening yourself up to an unnecessary risk in refusing to carrying out Welling 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 necessity to have them, but we would strongly advise in no uncertain terms that you have them. Where time pressures and cost are top of your issues you should discuss with your lawyer about the option of search insurance
We're in Welling, First time buyers buying with a mortgage (lender is Nottingham , and our solicitor is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am looking for a ground for flat up to £235,500 and identified one near me in Welling I like with amenity areas and station in the vicinity, however it only has 49 remaining years left on the lease. There is not much else in Welling suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
I only have Sixty One years remaining on my lease in Welling. I now want to extend my lease but my landlord is missing. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to find the freeholder. In some cases an enquiry agent may be helpful to carry out a search and prepare an expert document to be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s disappearance and the application to the County Court covering Welling.
My wife and I have hit a brick wall in trying to purchase the freehold in Welling. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the LVT to make a decision on the premium.
An example of a Lease Extension case for a Welling flat is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case was in relation to 1 flat.
Why do I have to provide my conveyancing practitioner with various items of identification before I can commence with selling or buying a property in Welling?
Welling lawyers are required by the Law Society, Solicitors Regulation Authority, the Land Registry and current Money Laundering legislation to certify that the have verified the identity of their clients. It is also sometimes a condition of your mortgage offer. Furthermore they have to complete various forms, particularly those relating to Land Tax and need to have details such as your full names, NI number and date of birth.