We are a couple about to exchange contracts for a semi detached house in Wimbledon. We encountered a stumbling block. The mortgage offer with Norwich and Peterborough Building Society expires on 19/12/2025 but the vendors are insisting on a completion date of 23/12/2025. Can one prolong the loan expiry date?
The best person to address this concern is your conveyancer who will calculate if he or she is better off negotiating with the lender, vendor’s conveyancers, selling agents or possibly all three based on the circumstances your house move to date.
The Wimbledon conveyancing solicitors that just started acting on my house acquisition in Wimbledon have without warning closed. They were on acting for me because I needed a firm on the Santander conveyancing panel and my previous Wimbledon lawyer was not. I paid them funds in advance. What are my options?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Santander conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
Are there restrictive covenants that are commonly picked up during conveyancing in Wimbledon?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Wimbledon. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying my first flat in Wimbledon benefiting from help to buy. The builders would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The property agent told me not disclose to my lawyer about this extras as it will put at risk 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 decided to have a survey done on a property in Wimbledon ahead of instructing lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some lenders will refuse to issue a mortgage on this type of home.
It depends who your proposed lender is. Lloyds has different requirements for example to Halifax. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wimbledon. Conveyancing may be slightly more expensive based on your lender's requirements.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £475,000 garden flat in Wimbledon in seven days. The freeholder has quoted £348 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a leasehold conveyance in Wimbledon?
For most leasehold sales in Wimbledon conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Addressing pre-exchange enquiries
Where consent is required before sale in Wimbledon
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I am the leaseholder of a second floor flat in Wimbledon. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount due for a lease extension?
in cases where there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to judgment on the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Wimbledon premises 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 residue of the current lease was 72.94 years.