I instructed a high street lawyer for my conveyancing in Abbey Wood yesterday. Going through the Ts and Cs I noteI am responsible for costs even where the transaction does not complete. Should I go with them or instruct an on-line conveyancing brokerage offering no completion no cost conveyancing in Abbey Wood?
It is usually ‘give and take’ in that if "No Sale No Fee" is available then the fee levels will generally be uplifted to counteract those transactions that fail to complete. Please beware that such deals rarely protect you from outlay such your Abbey Wood conveyancing search charges.
I have been told that property searches are a common cause of obstruction in Abbey Wood house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays in the conveyancing process. Searches are unlikely to be the root cause of holding up conveyancing in Abbey Wood.
Due to the input of my in-laws I had a survey completed on a property in Abbey Wood before retaining solicitors. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies will not issue a mortgage on such a premises.
It varies from the lender to lender. Santander has different instructions from Halifax. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Abbey Wood. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Abbey Wood to see if the conveyancing costs will increase in light of this.
In what way does the Landlord & Tenant Act 1954 affect my commercial premises in Abbey Wood and how can your lawyers assist?
The 1954 Act affords a safeguard to commercial leaseholders, giving them the legal entitlement to apply to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and assist with commercial conveyancing in Abbey Wood
I have just started marketing my 2 bed flat in Abbey Wood. Conveyancing is yet to be initiated, however I have recently had a half-yearly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as normal as all ground rent and service payments will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
My wife and I have hit a brick wall in negotiating a lease extension in Abbey Wood. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We are happy to put you in touch with a Abbey Wood conveyancing firm who can help.
An example of a Lease Extension case for a Abbey Wood residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The remaining number of years on the lease was 76 years.
I've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Abbey Wood. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
The majority of houses in Abbey Wood are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can assist with the conveyancing process. It is clear that you are purchasing in Abbey Wood so you should seriously consider looking for a Abbey Wood conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the landlord’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your conveyancer will appraise you on the various issues.