My partner and I are purchasing a new build flat in West Croydon and my solicitor is advising me that she has to the mortgage company to reveal incentives from the builder. I am under pressure to exchange contracts and I don't want to delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do all mortgage companies provide you with an approved list of West Croydon conveyancing solicitors? How do you know who is on the UBS conveyancing panel?
West Croydon conveyancing firms themselves provide us confirmation that they are on the UBS conveyancing panel as opposed to being supplied with a list from UBS directly.
My wife and I buying a victorian detached house in West Croydon. We would like to carry out a loft conversion at the house.Will the conveyancing process include checks to determine if these works were previously refused?
Your conveyancer will check the deeds as conveyancing in West Croydon will on occasion reveal restrictions in the title documents which prevent categories of works or need the permission of another owner. Certain works require local authority planning consent and approval in accordance building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor before you commit yourself to a purchase.
Is it the case that all West Croydon solicitors on the Santander conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Santander conveyancing panel they would need to be overseen by the SRA. The majority of mortgage companies do permit licenced conveyancers on their panel in which case such organisation would be regulated by the Council of Licensed Conveyancers.
Can I be sure that the West Croydon conveyancing solicitor on the Yorkshire BS panel is any good?
When it comes to conveyancing in West Croydon getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the solicitor conducting your transaction.
I have been on the look out for a leasehold apartment up to £235,500 and identified one near me in West Croydon I like with a park and railway links in the vicinity, the downside is that it only has 61 years unexpired on the lease. I can't really find anything else in West Croydon suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage the shortness of the lease may be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you may 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 consult your conveyancing solicitor about this.
Can you provide any top tips for leasehold conveyancing in West Croydon from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in West Croydon can be bypassed where you get in touch lawyers as soon as your agents start marketing the property and ask them to put together the leasehold information needed by the buyers’ solicitors. If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is put on the market. The buyers and their solicitors will be nervous about purchasing a property where a dispute is unsettled. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to present the dispute as historic as opposed to unsettled. If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share document. Organising a replacement share certificate is often a time consuming formality and delays many a West Croydon home move. If a reissued share is needed, you should approach the company officers or managing agents (if relevant) for this at the earliest opportunity. Some West Croydon leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale.
Notwithstanding our best efforts, we have been unsuccessful in trying to purchase the freehold in West Croydon. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to determine the sum to be paid.
An example of a Freehold Enfranchisement case for a West Croydon premises is 29 Woodstock Road in April 2014. the Tribunal determined that the premiums to be paid into court in respect of the purchase of the freehold registered at HMLR under Title N0.SY3997 should be £7,217. This case related to 4 flats. The unexpired term was 98 years.