I am hoping to receive a mortgage with Santander. I hope to enlist the help of a Licensed Conveyancer in Malden. Does the Santander Conveyancing panel include conveyancers regulated by the CLC?
The Santander conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
How does conveyancing in Malden differ for new build properties?
Most buyers of new build or newly converted property in Malden come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Malden typically acquire the real estate, 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 Malden or who has acted in the same development.
I opted to have a survey done on a property in Malden prior to retaining lawyers. I have been told that there is a flying freehold aspect to the property. Our surveyor has said that some banks tend refuse to give a loan on such a house.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. If you e-mail us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Malden. Conveyancing will be smoother if you use a solicitor in Malden especially if they are acquainted with such properties in Malden.
In my capacity as executor for the estate of my uncle I am disposing of a house in Neath but live in Malden. My conveyancer (based 250 miles from meneeds me to sign a stat dec prior to the transaction finalising. Can you recommend a conveyancing practitioner in Malden who can witness this legal document for me?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are Malden based
I am looking at a two apartments in Malden both have about forty five years left on the lease term. should I be concerned?
There is no doubt about it. A leasehold flat in Malden is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the property. The majority of buyers and lenders, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Malden conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I inherited a second floor flat in Malden. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
Most definitely. We are happy to put you in touch with a Malden conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Malden residence is 158 West Hill in November 2010. the Tribunal held that the premium to be paid for the freehold reversion should be £99,650 This case affected 7 flats. The unexpired term as at the valuation date was 75.88 years.