I happen to be the single beneficiary of my late father’s will and I have everything in my name alone, including the house in Roehampton. The Roehampton property was put into my name in November. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship could be considered the same way as though I had purchased the property in November. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. How practical a view lenders take of it, depend on the lender as this provision is primarily there to capture the purchase and immediately sell or the flipping of property.
Are all Roehampton Conveyancing Quality Solicitors on the RBS conveyancing panel?
A selection of lenders now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
When it comes to lenders such as TSB, do Roehampton solicitors face a fee to be on the list of approved solicitors?
We are not aware of any lender fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
The deeds to my property can not be found. The lawyers who dealt with the conveyancing in Roehampton 4 years ago are no longer around. What do I do?
Nowadays there are copies made of almost everything, and your conveyancer should know exactly where to locate all the appropriate paperwork so you may purchase or dispose of your house without any difficulty. If duplicates can’t be found, your conveyancer can put in place insurance or indemnities against future claims on your premises.
Over the last few months I have been searching for a flat up to £235,500 and identified one near me in Roehampton I like with amenity areas and railway links nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in Roehampton suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
I work for a busy estate agency in Roehampton where we have experienced a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Roehampton conveyancing solicitors. Can you confirm whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a two-bedroom flat in Roehampton. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for the purchase of the freehold?
Absolutely. We can put you in touch with a Roehampton conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Roehampton premises is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case related to 3 flats. The unexpired term as at the valuation date was 66.25 years.
I am planning to acquire a property and need a conveyancing solicitor in Roehampton who is on the lender conveyancing panel. Could you point me in the right direction as regards a Roehampton solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the mortgage company who do conveyancing in Roehampton. We dont recommend any particular conveyancing practice.