I am buying a property and require a conveyancing solicitor in Woodside who is on the National Westminster Bank solicitor. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for National Westminster Bank in certain locations such as Woodside. We dont recommend any particular firm.
I happen to be the single beneficiary of my late mum's estate and I have everything in my name alone, including the my former home in Woodside. The Woodside property was put into my name in November. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship may be considered the same way as though I had purchased the house in November. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How sensible a view banks take of it, depend on the lender as this obligation is primarily there to identify subsales or the wholesaling and assigning of properties.
Can you point me to a directory of Kent Reliance panel solicitors in Woodside on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings open the public on the web. Where you are looking for a Woodside lawyer on the Kent Reliance please use our tool.
My offer on a semi in Woodside has been agreed to, but there is a chain. The vendors have put an offer on somewhere, however it’s not been accepted yet, and have viewings of other properties in the pipeline. I have instructed a nearby conveyancing solicitor in Woodside. What should be my next step? When do I get the mortgage application with Clydesdale started?
It is usual to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then valuation, Woodside conveyancing search charges, etc). First, you should check that your property lawyer is on the Clydesdale approved list. Regarding the next phase this very much dictated by the specifics of your transaction, attraction to the property and on the state of the market. In a buoyant market many buyers will apply for the mortgage with Clydesdale and arrange for the valuation and only if it was satisfactory would they request their property lawyer to press on with the conveyancing in Woodside.
Will our solicitor be asking questions about flooding during the conveyancing in Woodside.
Flooding is a growing risk for lawyers dealing with homes in Woodside. There are those who buy a property in Woodside, fully aware that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, however there are a numerous searches that can be undertaken by the purchaser or by their lawyers which should give them a better appreciation of the risks in Woodside. The conventional set of completed inquiry forms supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the vendor to determine whether the property has suffered from flooding. If flooding has previously occurred and is not revealed by the owner, then a buyer could issue a legal claim for losses as a result of such an incorrect reply. A purchaser’s conveyancers will also conduct an enviro report. This will higlight if there is any known flood risk. If so, further inquiries should be carried out.
About to purchase a new build apartment in Woodside. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Woodside
There must be mutual enforceability of lessee’s covenants. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I am looking for a ground for flat up to £195,000 and identified one near me in Woodside I like with a park and transport links in the vicinity, the downside is that it's only got 61 years unexpired on the lease. I can't really find anything else in Woodside for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the shortness of the lease may be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
I am attracted to a couple of maisonettes in Woodside both have approximately fifty years unexpired on the leases. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Woodside. The lease is a right to use the premises for a period of time. As a lease gets shorter the value of the lease deteriorates and it becomes more expensive to acquire a lease extension. This is why it is generally wise to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a solicitor and surveyor with experience in this area.
We have reached the end of our tether in trying to reach an agreement for a lease extension in Woodside. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a Woodside conveyancing firm who can help.
An example of a Lease Extension case for a Woodside flat is Ground Floor Flat 14 Lodge Road in October 2013. the tribunal held that the price payable for the acquisition of the extended lease of the property should be £12,590 .00 This case related to 1 flat. The remaining number of years on the lease was 69.46 years.