My relative suggested that if I am purchasing in Bethnal Green I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Bethnal Green conveyancing searches. It is a large report of about 40 pages, listing and setting out significant information about Bethnal Green around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Bethnal Green Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Bethnal Green Education with maps and statistics, Local Amenities and other useful information concerning Bethnal Green.
How does conveyancing in Bethnal Green differ for new build properties?
Most buyers of new build or newly converted property in Bethnal Green contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is built. This is because house builders in Bethnal Green tend to acquire 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 conveyancing solicitors 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 Bethnal Green or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Bethnal Green is the location of the property. Can you shed any light on this issue?
Flying freeholds in Bethnal Green are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bethnal Green you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bethnal Green may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
What does commercial conveyancing in Bethnal Green cover?
Non domestic conveyancing in Bethnal Green incorporates a broad array of guidance, offered by qualified solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
I need to find a conveyancing solicitor for sale conveyancing in Bethnal Green. I've discover a web site which looks to be the perfect offering If it is possible to get all the legals completed via web that would be ideal. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Last October I purchased a leasehold property in Bethnal Green. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have given up trying to reach an agreement for a lease extension in Bethnal Green. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the sum to be paid.
An example of a Lease Extension case for a Bethnal Green flat is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case related to 2 flats. The unexpired residue of the current lease was 72.39 years.