My husband and I are buying a brand new apartment in Welling and my solicitor is telling me that she has to the mortgage company to disclose incentives from the seller. I am under pressure to exchange and I don't want to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Me and my partner are purchasing a apartment in Welling. I might seem paranoid but how we can trust a lawyer? At some point we will need to send funds into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We are getting the release of further monies on our home loan from Yorkshire BS as we want to carry out renovations to our house in Welling. Do we need to select a bricks and mortar Welling solicitor on the Yorkshire BS conveyancing panel to handle the paperwork?
Yorkshire BS don't usually require a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS panel.
It is unclear whether my bank requires a lease extension. I have called into my local Welling building society branch on numerous occasions and was advised it wasn't a problem and they will lend. My Welling conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Your conveyancing practitioner must follow the Council of Mortgage Lenders’ Handbook section two conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when acquiring a residence in Welling?
Unless a previous acquisition of the premises took place after 12 October 2013 you could take it that lawyers delivering conveyancing in Welling to remain encouraging a chancel search and or insurance against a claim.
How do I search for a Welling law firm on the Alliance & Leicester conveyancing panel? I have wheels and am prepared to travel upto 25kilometers to meet the lawyer.
You can use the search on this website. Please select a mortgage company and your location and you will see a number of Welling conveyancing lawyers based on proximity. We have detailed some Welling conveyancing firms towards the end of this page and you can telephone them to check if they are on the Alliance & Leicester panel
I want to rent out my leasehold apartment in Welling. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for their consent?
The lease dictates the relationship between the freeholder and you the flat owner; specifically, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Welling do not prevent an absolute prevention of subletting – such a provision would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
I own a two-bedroom flat in Welling. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
Most definitely. We are happy to put you in touch with a Welling conveyancing firm who can help.
An example of a Lease Extension case for a Welling residence 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.
We have had DIP from Coventry Building Society who have advised we could borrow up to £117k. When do I need to instruct a practitioner for conveyancing? Welling is where we plan to move to.
You can appoint a solicitor now and ask them to open a file for you. This will facilitate: 1) the selling agent to issue a Sales Memorandum to the relevant parties 2) the seller’s property lawyer to send out the draft paperwork. That being said, do not instruct your conveyancing practitioner to start searches until you have your valuation report via Coventry Building Society and you are willing to proceed.