My wife and I are purchasing a 3 bedroom apartment in Welling with a mortgage. We wish to retain our Welling solicitor, however the mortgage company advise she’s not on their "panel". It appears that we have no choice but to instruct one of the bank panel firms or keep our Welling property lawyer and pay for one of their panel lawyers to represent them. This seems very unfair; can we not demand that the lender use our Welling conveyancer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Welling conveyancing solicitor to apply to be on the conveyancing panel.
We are purchasing our first house. Our solicitor has texted usto enquire if we would like to take out additional conveyancing searches. We are really unsure what's necessary for conveyancing in Welling
The extent of Welling conveyancing searches should be triggered based primarily on the premises, the location, the probability of any of these risks, your knowledge of the region and risks, your overall attitude to risk. What is important is that you adequately understand what information each search could supply. Then you can decide if you consider that you need that information. Should you be in doubt, ask your property lawyer to explain.
I purchased a freehold residence in Welling but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Welling and has limited impact for conveyancing in Welling but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
Having invested time reviewing mumsnet.com for a high-quality lawyer in Welling, most comment that I should look for a CQS kitemarked solicitor. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with prudent and efficient conveyancing procedures through the scheme protocol Membership covers numerous companies who conduct conveyancing in Welling.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one close by in Welling I like with open areas and station nearby, the downside is that it's only got 52 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 buying a lease with such few years left?
If you need a mortgage the shortness of the lease will be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
I today plan to offer on a house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Welling. Conveyancing solicitors have not yet been appointed. Will they explain the issues?
The majority of houses in Welling are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Welling in which case you should be looking for a Welling conveyancing solicitor and check that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the landlord’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will report to you on the legal implications.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Welling conveyancing firm to represent me?
Absolutely. We are happy to put you in touch with a Welling conveyancing firm who can help.
An example of a Lease Extension decision 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 affected 1 flat.