We hired a local firm for my conveyancing in Crouch End today. After carefully reading the terms of engagement it is apparent thatwe are on the hook for costs even if the dealdoes not happen. Should I ditch them and select a web based conveyancing brokerage promising no-sale-no-fee conveyancing in Crouch End?
It is usually a trade off in that if "No Sale No Fee" is advertised then the conveyancing charges will tend to be be more expensive to neutralise those conveyances that fail to complete. Also remember that such schemes rarely cover disbursements by way of example Crouch End conveyancing search expenses.
I own a freehold premises in Crouch End but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Crouch End and has limited impact for conveyancing in Crouch End but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
About to place a bid on a leasehold flat in Crouch End. The property agents tell me that it is usual for flats in Crouch End to have less than 75 years remaining. I am getting a loan with Bank of Ireland. Will the property be mortgageable given that the lease has 72 years to go.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 7/7/2019 the requirements read as follows :
I am buying a new build flat in Crouch End. Conveyancing is a frightening process 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.
Set out below is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Crouch End
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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. Forfeiture - bankruptcy or liquidation must not apply under this provision. 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.
How easy is it to change solicitor as I have to choose one who is on the HSBC Bank conveyancing panel. I was using a high street conveyancing solicitor in Crouch End round the corner but he is not accepted by HSBC Bank
We will our best to assist in finding you a conveyancing solicitor in Crouch End on the HSBC Bank panel. Please note that the conveyancers that we list do not pay us a referral fee if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in Crouch End. In making use of search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Crouch End.
Harry (my fiance) and I may need to sub-let our Crouch End 1st floor flat for a while due to a new job. We instructed a Crouch End conveyancing practice in 2004 but they have closed and we did not have the foresight to get any guidance as to whether the lease permits subletting. How do we find out?
The lease governs relations between the freeholder and you the leaseholder; in particular, it will say if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Crouch End do not contain an absolute prevention of subletting – such a provision would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
Having spent years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Crouch End. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We are happy to put you in touch with a Crouch End conveyancing firm who can help.
An example of a Lease Extension decision for a Crouch End property is Flat 2A 19 Shepherds Hill in June 2014. The tribunal concluded in accordance with section 48 and schedule 13 of the Leasehold Reform,Housing and Urban Development Act (the 1993 Act) that the premium payable in respect of the grant of a new lease for the Flat be £24,303 (twenty four thousand three hundred and three pounds) This case related to 1 flat. The number of years remaining on the existing lease(s) was 67.85 years.