Me and my partner are about to exchange buying a property in Banstead but as a result of wreckage from the recent storms I have managed to agree reparation from the vendor of £3k taking the form of a adjustment in the price. I had intended this to be addressed as part of the conveyancing process however Co-operative will not agree to this. Should they have been notified?
The conveyancer that is on the Co-operative conveyancing panel is obliged to inform Co-operative of any amendments to the purchase price. If you prohibit your lawyer to report the price change to Co-operative then they would have to discontinue acting for you. In addition, Co-operative and you would have to appoint a new property lawyer for your conveyancing in Banstead.
It is a dozen years since I acquired my property in Banstead. Conveyancing lawyers have now been appointed on the sale but I can't find the deeds. Is this a problem?
You need not be too concerned. First there is a chance that the deeds will be kept by the mortgage company or they may be archived with the solicitor who acted in your purchase. Secondly the likelihood is that the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors obtaining current official copies of the land registers. Almost all conveyancing in Banstead relates to registered property but in the rare situation where your home is not registered it is more tricky but is resolvable.
I am looking for a flat up to £305k and identified one near me in Banstead I like with open areas and transport links nearby, the downside is that it's only got 49 years on the lease. I can't really find anything else in Banstead suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you require a mortgage that many years may be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.
My wife and I purchased a leasehold flat in Banstead. Conveyancing and Bank of Scotland mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Banstead who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. There is no need to incur the fees of a Banstead conveyancing lawyer to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Banstead conveyancing firm to act on my behalf?
Most definitely. We can put you in touch with a Banstead conveyancing firm who can help.
An example of a Lease Extension decision for a Banstead property is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case affected 1 flat. The unexpired term as at the valuation date was 60.43 years.
Our sealed bid on property in Banstead has been agreed to, but there is a chain. The owners have offered on on an apartment, however it’s not yet tied up, and has viewings of other properties booked. I have instructed a local conveyancing lawyer in Banstead. What do I do now? When do I get the mortgage application with Virgin Money going with Virgin Money?
It is understandable to have apprehensions where there is an associated chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is in the region of £1k, then survey, Banstead conveyancing search costs, etc). The first thing to do is check that your conveyancing practitioner is on the Virgin Money conveyancing panel. As to the next stages this very much dictated by the uniqueness of your case, desire for this property and on the state of the market. During a rising market the majority of purchasers would apply for the mortgage with Virgin Money and arrange for the valuation and only if it was satisfactory would they ask their conveyancing practitioner to press on with searches.