I am being told by my lawyer that defective lease insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Woolwich?
The right level of defective lease indemnity insurance should be dictated by who your lender. It would differ for example between National Westminster Bank and Barnsley Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
I happen to be the single beneficiary of my late grandmother’s estate and I have everything in my name now, including the house in Woolwich. The Woolwich property was put into my name in April. I want to move. I understand that there is a CML 6 month 'rule', which means that my proprietorship could be regarded the same way as though I had purchased the property in April. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. Some mortgage companies would take a pragmatic view as this requirement chiefly exists to identify the purchase and immediately sell or the wholesaling and assigning of properties.
We had chosen conveyancing lawyers based in Woolwich on the Santander solicitor approved list. They are now charging me an additional sum for dealing with the Santander mortgage. Is this a supplemental conveyancing fee set by Santander?
As unfair as it may seem, as long as it’s in their Terms and Conditions or Quote then yes your conveyancer may levy a fee for this. This charge is not set by Santander but by your Woolwich conveyancer. Some firms on the Santander panel will levy ’dealing with mortgage’ fee but plenty of firms include it on their overall fee.
Are there restrictive covenants that are commonly identified as part of conveyancing in Woolwich?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Woolwich. 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…’
How does conveyancing in Woolwich differ for newly converted properties?
Most buyers of new build residence in Woolwich approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is ready to move into. This is because builders in Woolwich typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Woolwich or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a house in Woolwich prior to instructing solicitors. I have been advised that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies will not grant a mortgage on such a home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. If you e-mail us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Woolwich. Conveyancing may be slightly more expensive based on your lender's requirements.
As co-executor for the will of my grandfather I am selling a property in Newport but live in Woolwich. My solicitor (approximately 260 miles awayrequires that I execute a stat dec before the transaction finalising. Can you recommend a conveyancing lawyer in Woolwich who can witness and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are based in Woolwich
I am in need of some leasehold conveyancing in Woolwich. Before I get started I require certainty as to the number of years remaining on the lease.
If the lease is registered - and almost all are in Woolwich - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
My wife and I have hit a brick wall in trying to purchase the freehold in Woolwich. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to calculate the premium.
An example of a Lease Extension matter before the tribunal for a Woolwich flat is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case affected 1 flat. The unexpired residue of the current lease was 69.77 years.