My husband and I are acquiring a newly built apartment in Caterham and my solicitor is telling me that she has to the bank to reveal incentives from the builder. I am under pressure to sign contracts and I would rather not delay deal. 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 lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
It is is a decade since I acquired my house in Caterham. Conveyancing lawyers have recently been retained on the sale but I am unable to track down my title deeds. Is this a major issue?
You need not be too concerned. Firstly there is a chance that the deeds will be retained by your mortgage company or they could be in the possession of the lawyers who oversaw your purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring current official copies of the land registers. Nearly all conveyancing in Caterham involves registered property but in the rare situation where your property is unregistered it adds to the complexity but is resolvable.
We are buying a flat in Caterham. I might seem paranoid but how we can trust a conveyancer? At some point we have to put our life savings into their account. What is the protection we have from them run away with our money?
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 previously instructed solicitors locally in Caterham on the Principality solicitor panel. They are now charging me an additional amount for handling the Principality mortgage. Is this a supplemental conveyancing fee set by Principality?
Unfortunately, so long as it is in their Terms and Conditions or Quote then yes your lawyer is entitled to levy a fee for this. This charge is not dictated by Principality but by your Caterham property lawyer. Some firms on the Principality panel will charge ’dealing with mortgage’ fee and others do not.
My offer on a property in Caterham has been accepted, the sellers do nevertheless have a connected purchase. The vendors have offered on a flat, however it’s not yet tied up, and have viewings of other apartments booked. I have chosen a local conveyancing solicitor in Caterham. What do I do now? When do I get the mortgage application with Nottingham started?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is in the region of £1k, then valuation, Caterham conveyancing search fees, etc). First, you should ensure that your solicitor is on the Nottingham approved list. Concerning the subsequent steps this very much depends on the uniqueness of your case, motivation for this property and on the state of the market. In a buoyant market many home buyers would apply for the mortgage with Nottingham and arrange for the valuation and only if it was satisfactory would they ask their conveyancer to proceed with the conveyancing in Caterham.
Have purchased a a terraced house in Caterham , how long will it take for the Land Registry to record my ownership? My Caterham conveyancing solicitor has been very slow, so I want to be sure that my purchase is recorded.
As far as conveyancing in Caterham is concerned, registration is no quicker or slower than the rest of England and Wales. Rather than based on location, timescales can adjust according to the party submitting the application, whether it is in order and if the Land registry communicate with any 3rd persons or bodies. Currently roughly three quarters of such applications are fully addressed within 12 days but some can be subject to longer hold-ups. Registration takes place after the purchaser is living at the premises thus post completion formalities is not usually top priority but where there is a degree of urgency associated with the registration then you or your lawyers should speak with the land registry and explain the circumstances.
Can you provide any top tips for leasehold conveyancing in Caterham with the aim of expediting the sale process?
- Much of the delay in leasehold conveyancing in Caterham can be reduced if you get in touch lawyers as soon as your agents start advertising the property and ask them to put together the leasehold documentation which will be required by the purchasers’ solicitors. If you are supposed to have a share in the freehold, you should make sure that you have the original share certificate. Obtaining a re-issued share certificate is often a lengthy formality and delays many a Caterham home move. Where a new share is necessary, you should approach the company director and secretary or managing agents (if relevant) for this as soon as possible. If you have had conflict with your freeholder or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be warry about purchasing a flat where a dispute is unresolved. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to present the dispute as over rather than ongoing. If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example installed wooden flooring? Caterham leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such works. If you fail to have the consents to hand you should not contact the landlord without contacting your solicitor in advance. You may think that you are aware of the number of years left on your lease but you should double-check by asking your lawyers. A buyer’s lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 80 years. It is therefore essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
I am the proprietor of a garden flat in Caterham. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for a lease extension?
if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to judgment on the premium.
An example of a Freehold Enfranchisement matter before the tribunal for a Caterham flat is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case affected 3 flats. The unexpired residue of the current lease was 75 years.