We are approaching an exchange on a property in Kingston Vale and my parents have sent the ten percent deposit to my lawyer. I am now advised that as the deposit has not arrived from me my conveyancer needs to disclose this to my mortgage company. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
The lawyer is duty bound to clarify with mortgage company to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
My husband and I are in the process of viewing flats in Kingston Vale and I am about to put in an offer. Is it wise to have my conveyancer on ‘stand by’? I will be getting a mortgage with TSB.
It would be sensible to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. As you are getting a mortgage with TSB, make sure you remember to check that your lawyer is on the TSB conveyancing panel.
It is unclear whether my bank requires a lease extension. I have called into my local Kingston Vale building society branch on numerous occasions and was told it wasn't a problem and they will lend. My Kingston Vale conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they will not lend in accordance with their published requirements. I simply don't know who is right.
Provided that the solicitor is on the bank approved list, they must comply with the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I was told two weeks ago that my mortgage has been agreed to by Co-operative. Is it usual for Co-operative to only issue the offer once my solicitor in Kingston Vale is approved on their conveyancing panel? Co-operative have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Co-operative to deal with your lawyer's application to be on the Co-operative conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in Kingston Vale differ for newly converted properties?
Most buyers of new build premises in Kingston Vale contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is built. This is because builders in Kingston Vale usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Kingston Vale or who has acted in the same development.
I only have 68 years remaining on my lease in Kingston Vale. I now want to get lease extension but my landlord is absent. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to find the landlord. On the whole a specialist would be useful to conduct investigations and to produce an expert document which can be used as proof that the freeholder can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s absence and the application to the County Court covering Kingston Vale.
After months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Kingston Vale. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most certainly. We are happy to put you in touch with a Kingston Vale conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Kingston Vale residence is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case was in relation to 3 flats. The unexpired term as at the valuation date was 66.25 years.
I am due to review estimates for conveyancing in Kingston Vale from numerous lawyer and decide on one. Am I right to tell them to hold tight until I a suitable house to buy.
You should wait to get your lawyer to start work and order searches once the sales memo has been issued by the selling agent especially as Kingston Vale conveyancing searches are a couple of hundred pounds.