Do conveyancers ask for money on account for conveyancing in Covent Garden?
Where you are retaining lawyers for conveyancing in Covent Garden your lawyer will ask you put them with monies to cover the search fees. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the total price then this will be asked for shortly ahead of contracts are exchanged. The final balance that is due should be sent to your lawyer shortly before completion.
I acquired my home on 14 May and the transaction details is yet to be on the land registry website. Should I be concerned? My conveyancing solicitor in Covent Garden expressed confidence that it should be formalised inside ten days. Are transfers in Covent Garden particularly slow to register?
As far as conveyancing in Covent Garden registration is no faster or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can adjust according to who lodges the application, whether there are errors and whether the Land registry need to notify any 3rd persons or bodies. At present approximately 80% of such applications are completed within two weeks but occasionally there can be protracted delays. Historically registration occurs after the new owner is living at the premises therefore an expedited registration is not always top priority yet if it is urgent that the the registration takes place urgently then you or your conveyancer could communicate with the Registry to express the reasoning for the application to be prioritised.
Just had an offer accepted on a new build flat in Covent Garden. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Covent Garden
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants.
Due to the input of my in-laws I had a survey completed on a house in Covent Garden prior to retaining solicitors. I have been advised that there is a flying freehold element to the property. My surveyor advised that some banks tend not give a loan on such a home.
It depends who your proposed lender is. Lloyds has different requirements from Birmingham Midshires. Should you wish to telephone us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Covent Garden. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Covent Garden to see if the conveyancing will be more expensive.
I have been pointed in your direction by two or three local estate agents in Covent Garden to select a solicitor using your seach tool. Is there a financial inducement for Estate Agents to recommend your lawyers over and above another?
We refuse to offer any commission for pointing buyers and sellers in our direction. We found it would be just too difficult to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I own a leasehold house in Covent Garden. Conveyancing and Barnsley Building Society mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1996. The conveyancing practitioner in Covent Garden who acted for me is not around. Do I pay?
First make enquiries of HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to instruct a Covent Garden conveyancing solicitor to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Notwithstanding our best endeavours, we have been unsuccessful in trying to purchase the freehold in Covent Garden. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a Covent Garden conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Covent Garden residence is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case related to 1 flat. The unexpired lease term was 73.26 years.