I have been told that property searches are the primary reason for obstruction in Collier Row conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of delay in conveyancing in Collier Row.
About to purchase a new build apartment in Collier Row. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Collier Row
-
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I decided to have a survey done on a house in Collier Row before retaining solicitors. I have been told that there is a flying freehold aspect to the house. Our surveyor has said that some lenders may refuse to give a mortgage on this type of property.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. If you contact us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Collier Row. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Collier Row to see if the conveyancing costs will increase in light of this.
We're first time buyers - had an offer accepted, yet the estate agent advised that the vendor will only go ahead if we appoint their preferred lawyers as they want a ‘quick sale’. Our preferred option is to instruct a high street conveyancer with experience of conveyancing in Collier Row
It is unlikely the owners are driving this. If they want ‘a quick sale', turning down a genuine buyer is going to damage their objectives. Contact the vendors directly and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you will continue to appoint your preferred Collier Row conveyancing solicitors - as opposed tothose that will earn their negotiator at the agency a referral fee or achieve conveyancing targets demanded by corporate headquarters.
Jane (my partner) and I may need to sub-let our Collier Row garden flat temporarily due to taking a sabbatical. We used a Collier Row conveyancing practice in 2003 but they have since shut and we did not have the foresight to seek any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A lease dictates the relationship between the freeholder and you the flat owner; specifically, it will set out if subletting is banned, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is permitted. The majority of leases in Collier Row do not prevent strict prohibition on subletting – such a provision would undoubtedly devalue the flat. In most cases there is a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
I own a ground floor flat in Collier Row. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
Absolutely. We are happy to put you in touch with a Collier Row conveyancing firm who can help.
An example of a Lease Extension decision for a Collier Row premises is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The unexpired lease term was 57.5 years.
I happen to be an executor of my recently deceased aunt’s Will, with a property in Collier Row which will be sold. The house has never been registered at the Land Registry and I'm told that some estate agents will insist that it is completed before they'll proceed. What's the mechanism for this?
In the circumstances you refer to it seems prudent to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.