A loan offer from HSBC for the remortgage of my single room maisonette is coming within the next few days. Are you able to put forward a low cost conveyancing lawyer in Thames View?
You are on the wrong site if you are in need of cut-price fees for conveyancing in Thames View. Our goal is to offer value for money conveyancing but our intention is not to work with the cheapest lawyers. Resist the temptation to appoint brokers teasing you with £100 conveyancing in Thames View. Optimistically, in being led by cheap conveyancing, you will end up with what you pay for and at worst you will end up paying a lot in extras and still not receive the service you were hoping for.
Last month we had a mortgage agreed in principle with Virgin Money. Thames View conveyancing solicitors are instructed. How long does it take for Virgin Money to issue the offer to the conveyancing practitioner?
There is no definitive answer here. Have Virgin Money completed the valuation? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have today made my last payment due on my mortgage with Bank of Ireland. I assume I don't need a Thames View property lawyer on the Bank of Ireland panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Bank of Ireland mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Thames View. I have a mortgage agreed with Virgin Money. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
I am buying a new build apartment in Thames View. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Thames View
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Do I need to be suspicious by third parties that I am dealing with are suggesting an online conveyancing firm rather than a local Thames View conveyancing company?
As with lots of service providers, often suggestions from relatives can be most helpful. Yet there are many players in a conveyancing matter; estate agents, mortgage brokers and banks may recommend lawyers to select. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there is an underlying commercial relationship behind the endorsement. You are free to appoint your own conveyancer. Don't forget that some lenders have an approved list of solicitors you are obliged to use for the lender related work in your house move.
I am looking at a two maisonettes in Thames View both have about forty five years unexpired on the lease term. should I be concerned?
There is no doubt about it. A leasehold flat in Thames View is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most purchasers and mortgage companies, leases with under 75 years become less and less attractive. 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 Thames View conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending 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 the agreed 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 am the registered owner of a second floor flat in Thames View. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
if there is a missing landlord or where there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the LVT to judgment on the premium.
An example of a Lease Extension case for a Thames View residence is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case related to 1 flat. The unexpired term as at the valuation date was 61.36 years.