My partner and I are looking to buy a house in Sanderstead and are in fact using a Sanderstead conveyancing practice. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Barclays Direct have this afternoon contacted us to inform me that there is now an issue as our Sanderstead conveyancer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Sanderstead solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
2 months have gone by following my purchase conveyancing in Sanderstead concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am looking for a ground for flat up to £245,000 and identified one round the corner in Sanderstead I like with amenity areas and transport links nearby, however it only has 51 remaining years left on the lease. There is not much else in Sanderstead for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan that many years may be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
Given that I am about to part with 450k on a terraced house in Sanderstead I would like to talk to a conveyancer about myconveyancing prior to appointing the firm. Is this something that you can arrange?
We could not agree more - we would be happy to talk to you we do not take any clients on without you first talking to the lawyer due to be carrying out your property ownership legalities in Sanderstead.There is no ‘factory style conveyancing’ - every client is unique individual, not a file reference. The solicitors that we put you in touch with believe that the figure you are quoted for your conveyancing in Sanderstead should be the amount on the final invoice that you end up paying.
I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable figure which is making it more attractive. I have just been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Sanderstead. Conveyancing lawyers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Sanderstead ?
The majority of houses in Sanderstead are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can help the conveyancing process. it is apparent that you are purchasing in Sanderstead so you should seriously consider looking for a Sanderstead conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your lawyer should report to you on the legal implications.
I own a ground flat in Sanderstead. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?
if there is a absentee landlord 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 make a decision on the sum to be paid.
An example of a Freehold Enfranchisement matter before the tribunal for a Sanderstead premises is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case affected 6 flats. The unexpired residue of the current lease was 78.32 years.