Finally the sale completed on my house in Swanscombe last March yet the purchaser is Skype messaging every few hours to say their solicitor needs to hear from mylawyer. What are the post completion sale legalities now that I have sold?
Following your sale your conveyancer should forward the transfer documentation and all of the paperwork to the purchaser's conveyancer. Depending on the transaction, your conveyancer should also confirm that the home loan has been repaid to the buyers conveyancers. There are no post completion tasks peculiar conveyancing in Swanscombe.
we are a couple who wish to acquire a purpose built flat in Swanscombe with a loan from The Royal Bank of Scotland.We have a Swanscombe conveyancing practitioner but The Royal Bank of Scotland advised that he's not listed on their approved list of firms. we are left little option but to use a The Royal Bank of Scotland panel lawyer or keep our preferred solicitor and fork out for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that The Royal Bank of Scotland use our lawyer?
No, not really. The mortgage offered to you contains various provisions, one of which will be that lawyers will be on the The Royal Bank of Scotland conveyancing panel. in the past, most banks had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for The Royal Bank of Scotland
I'm buying a new build house in Swanscombe with the aid of help to buy. The builders would not budge the amount so I negotiated five thousand pounds worth of additionals instead. The property agent advised me not reveal to my conveyancer about this deal as it may jeopardize my mortgage with Nationwide Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a flat up to £195,000 and found one close by in Swanscombe I like with open areas and transport links in the vicinity, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Swanscombe in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you need a mortgage that many years will be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
Can you offer any advice when it comes to finding a Swanscombe conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Swanscombe conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Swanscombe conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
If they are not ALEP accredited then what is the reason? How many lease extensions has the firm conducted in Swanscombe in the last year?
I have given up trying to purchase the freehold in Swanscombe. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to decide the price payable.
An example of a Lease Extension decision for a Swanscombe flat is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case was in relation to 13 flats. The unexpired residue of the current lease was 76 years.