We hired a local solicitor for my conveyancing in Wimbledon today. Going through the official terms of business I noteI am responsible for costs even where the conveyance does not complete. Should I ditch them and use a web based conveyancing company who offer no-sale-no-fee conveyancing in Wimbledon?
It is usually ‘give and take’ in that if "No Sale No Fee" is advertised then the conveyancing charges will tend to be be higher to counteract those transactions that do not proceed. Also remember that such promotions tend not to protect you from disbursements for example Wimbledon conveyancing search costs.
Why do I have to pay up front when it comes to conveyancing in Wimbledon?
If you are buying a property in Wimbledon your lawyer will ask you put them with funds to cover the search fees. Generally this is asked for to cover the fees of the Local Authority Search. When the down payment is payable against the purchase price then this will be needed immediately ahead of contracts are exchanged. Any further balance that is needed should be transferred shortly before completion.
A colleague recommended that where I am purchasing in Wimbledon I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally included in the estimate for your Wimbledon conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Wimbledon around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Wimbledon Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful data about Wimbledon.
The deeds to my home are lost. The solicitors who did the conveyancing in Wimbledon 4 years ago no longer exist. What are my next steps?
You no longer need to hold title official documentation to prove you are the registered proprietor of land or premises, as the Land Registry hold details of all registered land or property electronically.
I'm purchasing my first flat in Wimbledon with a loan from Barclays . The sellers would not reduce the amount so I negotiated 6k of extras instead. The property agent suggested that I not disclose to my lawyer about the extras as it may adversely affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently bought a leasehold property in Wimbledon. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Wimbledon conveyancing firm to represent me?
Absolutely. We can put you in touch with a Wimbledon conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Wimbledon flat is 629 Garratt Lane in September 2014. The consideration payable for the acquisition of the freehold of the subject property was the sum £21,302.74. This represented a valuation of the freehold in the sum of £23,864 from which the sum of £2561.27 has been deducted in respect of certain costs in repairing and insuring the premises This case affected 3 flats. The unexpired term as at the valuation date was 72.94 years.