Me and my fiance are acquiring residence in Upper Tooting. My property lawyer is not on the lender approved list. Is it possible for me to continue with my Upper Tooting conveyancing solicitor even though they are not on the bank panel of approved conveyancing solicitors?

You will need to appoint a lawyer to deal with the formalities when you take out a loan to buy your home. They will carry out all the relevant due diligence on the property, ensuring that you will be registered as proprietor and ensure that all the necessary mortgage documentation is dealt with. You can instruct a Upper Tooting lawyer of your choosing. However, if the conveyancer selected is not on the lender approved list further charges will arise as separate legal representation will be need by the lender. Conveyancing panel applications may be submitted, so provided your solicitor has not historically sought membership they should take the chance to apply.

I am looking for a leasehold apartment up to £305k and found one close by in Upper Tooting I like with open areas and station nearby, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Upper Tooting for this price, so just wondered if I would be making a grave error purchasing a short lease?

If you require a mortgage that many years will be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.

What does commercial conveyancing in Upper Tooting cover?

Non domestic conveyancing in Upper Tooting covers a wide range of services, given by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer 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.

My husband and I are FTB’s - had an offer accepted, but the agent has warned us that the vendor will only issue a contract if we instruct the agent's recommended conveyancers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a local solicitor used to conveyancing in Upper Tooting

We suspect that the owner is not behind this request. Should the vendor desire ‘a quick sale', turning down a motivated buyer is counter productive. Avoid the agents and go straight to the owners and explain that (a)you are keen to buy (b)you are ready to progress, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)however you are going to use your preferred Upper Tooting conveyancing solicitors - not the ones that will give their estate agent a referral fee or hit his conveyancing thresholds pre-set by senior management.

I work for a reputable estate agent office in Upper Tooting where we see a number of flat sales derailed as a result of leases having less than 80 years remaining. I have received contradictory information from local Upper Tooting conveyancing solicitors. Could you shed some light as to whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Upper Tooting Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to buying

Generally speaking the outlay for major works are not built into the maintenance charges, although there some managing agents in Upper Tooting obliged leaseholders to contribute towards a reserve fund created for the specific intention of establishing a fund for larger repairs or maintenance. How many years are left on the lease? The best form of lease arrangement is if the freehold interest is owned by the leaseholders. In this scenario the tenants benefit from control and although a managing agent is often employed if it is bigger than a house conversion, the managing agent is directed by the tenants.