My conveyancer has discovered a defect with the lease for the flat we are buying in Thamesmead. The other side have suggested title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancing practitioner says that he must ensure that the bank is content with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. These conveyancing instructions have to be complied with.
I have recentlybeen informed that Action Conveyancing have been shut down. They carried out my conveyancing in Thamesmead for a purchase of a leasehold apartment 12 months ago. How can I establish that my home is in my name in the name of the former proprietor?
The quickest method to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Thamesmead conveyancing specialists.
I have been on the look out for a flat up to £195,000 and found one near me in Thamesmead I like with a park and station nearby, the downside is that it's only got 52 years on the lease. I can't really find anything else in Thamesmead for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage that many years will likely be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
Is there anything unique about your site and other online quote calculators when it comes to conveyancing in Thamesmead?
At this site secure an accurate costs illustration via a Solicitor or Licensed Conveyancer that appreciates the nuances for your conveyancing in Thamesmead. Unlike many estate agents and brokerage sites we do not operate commission arrangements with solicitors. Many agents and online brokers 'recommend' the firm paying the most commission, not the best value conveyancing in Thamesmead
Last July I purchased a leasehold property in Thamesmead. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I inherited a a ground floor purpose built flat in Thamesmead. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Absolutely. We can put you in touch with a Thamesmead conveyancing firm who can help.
An example of a Lease Extension decision for a Thamesmead property 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 remaining number of years on the lease was 76 years.