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Recently asked questions about conveyancing in South West London

I am about to put a bid on a leasehold property in South West London. The estate agents advise that it is the norm for flats in South West London to have less than 75 years remaining. I am obtaining a mortgage with Platform. Will the property be mortgageable given that the lease has 70 years unexpired.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 18/5/2024 the requirements read as follows :

Minimum 85 years unexpired from completion, except where the mortgage application is pursuant to Platform's participation in the Government's Help to Buy Shared Equity scheme, in which case (a) the unexpired lease term must not be less than 250 years for new-build houses and not less than 125 years for new-build flats and (b) ground rent must be reasonable at all times and any escalation must be linked to RPI (Retail Price Index) or a similar index.

Just acquired a semi-detached house in South West London , What is the estimated time for the Land Registry to deal with the formalities evidencing my ownership? My South West London conveyancing solicitor has been very slow, so I want to be certain that my ownership is registered.

There is nothing unique when it comes to conveyancing in South West London registration formalities. As opposed to being determined by geographic area, timeframes can vary according to the party submitting the application, whether it is in order and whether the Land registry need to notify any other parties. Currently in the region of 80% of such applications are fully addressed in less than three weeks but some can be subject to protracted hold-ups. Historically registration occurs once the purchaser is living at the property therefore post completion formalities is not always top priority but if there is a degree of urgency associated with the registration then you or your solicitor can contact the land registry and explain the circumstances.

I opted to have a survey carried out on a property in South West London before instructing solicitors. I have been told that there is a flying freehold element to the property. Our surveyor has said that some banks will refuse to grant a loan on such a property.

It depends who your proposed lender is. HSBC has different instructions for example to Halifax. Should you wish to call us we can check with 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 South West London. Conveyancing will be smoother if you use a solicitor in South West London especially if they regularly deal with such properties in South West London.

What does commercial conveyancing in South West London cover?

Commercial conveyancing in South West London covers a wide range of guidance, given by regulated solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.

If all goes to plan we aim to complete our sale of a £300,000 apartment in South West London next Monday. The management company has quoted £396 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in South West London?

For most leasehold sales in South West London conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    Addressing conveyancing due diligence enquiries Where consent is required before sale in South West London Supplying insurance information Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale
Your lawyer will have no control over the level of the charges for this information but the average costs for the information for South West London leasehold premises is £350. For South West London conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply answers.

I have had difficulty in trying to purchase the freehold in South West London. Can the Leasehold Valuation Tribunal adjudicate on premiums?

Most certainly. We are happy to put you in touch with a South West London conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a South West London premises is 78 & 80 Newport Road in January 2013. the Tribunal concluded that the premium to be paid by the leaseholder in respect of the freehold reversion is £23,105 This case related to 2 flats. The number of years remaining on the existing lease(s) was 71.63 years.

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Find out more about how flying freehold can affect your the value of a property.