Is there a reason why leasehold purchase conveyancing in Chalk Farm is more expensive?
In summary, leasehold conveyancing in Chalk Farm and North London usually involve additional hours of investigation compared to freehold transactions. This includes reviewing the lease, liaising with the landlord about serving required notices, procuring up-to-date service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
I am assisting my step-mother sell her house in Chalk Farm. Does the conveyancer arrange the energy assessment or it is for the owner to see to?
After the abolition of HIPs, energy assessments was retained a compulsory element of selling a house. An energy assessment should be commissioned in advance of the property being advertised. It is not a task that solicitors ordinarily organise. Where you are instructing a Chalk Farm conveyancing practitioner they may help arrange energy assessments given their relationships with long established local assessors
My conveyancer has informed me that lack of planning permission insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Chalk Farm?
The appropriate level of lack of planning permission indemnity insurance depends on who your lender is. It would differ for example between Barclays and The Royal Bank of Scotland. Conveyancing practitioners as opposed to borrowers take out such policies.
We have a mortgage agreed in principle with Yorkshire BS. Chalk Farm conveyancing solicitors have been instructed. What is the average time that one could expect to receive a mortgage offer from Yorkshire BS?
Some lenders take longer than others. Have Yorkshire BS completed the valuation? Have you advised Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Are there restrictive covenants that are commonly identified as part of conveyancing in Chalk Farm?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Chalk Farm. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
In what way does the Landlord & Tenant Act 1954 affect my business offices in Chalk Farm and how can you help?
The particular law that you refer to affords protection to commercial leaseholders, granting the dueness to apply to court for a continuation of occupancy at the end of an expired lease. There are limited grounds where a landlord can refuse 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 Chalk Farm
We're new to the buying process - had an offer accepted, but the selling agent informed us that the seller will only issue a contract if we use their recommended conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local solicitor accustomed to conveyancing in Chalk Farm
We suspect that the seller is not behind this ultimatum. If they want ‘a quick sale', turning down a serious purchaser is not the way to achieve this. Avoid the agents and go straight to the sellers and make the point that (a)you are motivated purchasers (b)you are ready to go, with finances in place © you are unencumbered (d) you intend to proceed fast (e)however you will continue to instruct your own,trusted Chalk Farm conveyancing firm - not the ones that will provide the negotiator at the agency a referral fee or meet his conveyancing targets demanded by corporate headquarters.
Completion is due on our sale of a £125,000 flat in Chalk Farm on Wednesday in a week. The managing agents has quoted £360 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Chalk Farm?
Chalk Farm conveyancing on leasehold maisonettes more often than not involves the buyer’s conveyancer submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to answer such questions most will be content to do so. They are at liberty to invoice a reasonable administration fee for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some cases it is above £800. The management information fee demanded by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, without which the charge is not strictly payable. In reality one has little choice but to pay whatever is requested of you should you wish to sell the property.
I own a first flat in Chalk Farm. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
You certainly can. We are happy to put you in touch with a Chalk Farm conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Chalk Farm residence is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case affected 1 flat. The unexpired term as at the valuation date was 64.77 years.