Have just purchased a probate house at auction in Wallington. Conveyancing is required. What are my next steps?
Given that you have now exchanged you now have to instruct a conveyancing solicitor soon as you are faced with a fast approaching a fixed date to complete the purchase. Every auction property should have an associated legal pack. This will include the copy title deeds, local authority and drainage searches. In the case of leasehold property the conveyancing papers should include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You must give this to the solicitor working for you ASAP. You also need to ensure that you have funds organised to complete the transaction on the set completion date.
I am purchasing a property in Wallington. An unusual aspect is that the roof has a solar panel. Yorkshire BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Yorkshire BS your lawyer must follow the conveyancing instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Yorkshire BS. The CML Handbook includes minimum requirements for solar panel roof-space leases, and solicitors are required to report to Yorkshire BS where a lease fails to meet these conditions. The requirements relate to the installation of panels on properties in England and Wales and is not limited to Wallington.
The formalities of my purchase has taken place for my property in Wallington. Conveyancing was a necessary evil but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Do commercial conveyancing searches reveal planned roadworks that may impact a commercial site in Wallington?
Many commercial conveyancing solicitors in Wallington will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Wallington. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Wallington.
For each commercial conveyancing transaction in Wallington it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may cause delays to Wallington commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Wallington.
I used Action Conveyancing several years past for my conveyancing in Wallington. I now require my file but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Wallington of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking at a two flats in Wallington both have approximately fifty years unexpired on the lease term. Will this present a problem?
There is no doubt about it. A leasehold apartment in Wallington is a wasting asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the salability of the premises. For most buyers and mortgage companies, leases with under 75 years become less and less marketable. 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 property 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 a residence 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 Wallington 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. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new 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.
Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in Wallington. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We are happy to put you in touch with a Wallington conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Wallington residence is 21 & 23 Carshalton Grove in May 2009. the Tribunal adopted the figures presented as the premiums payable by the Applicant i.e. a total of £20,750. This case was in relation to 2 flats. The unexpired term was 72 years.
Our conveyancer in Wallington has identified a a problem with the lease for the apartment we are buying in Wallington. The seller’s lawyers have offered title insurance as a solution. We are content with insurance and will pay for it. Our solicitor has advised that as he is on the mortgage company conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or the lender?
Just because you have a mortgage offer from the lender does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Wallington conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. The appropriate lender requirements must be adhered to by the bank conveyancing panel who has to balance acting for you and the bank