Do the conveyancing solicitors listed on your site execute conveyancing in East Finchley by way of an attended exchange?
We do have a number of conveyancing specialists carrying out 24hr exchanges. Do e-mail us to obtain a costs illustration and details as to dates.
I purchased a freehold property in East Finchley yet pay rent, why is this and what is this?
It’s unusual for properties in East Finchley and has limited impact for conveyancing in East Finchley 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 many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
We're in East Finchley, FTBs purchasing with a mortgage (lender is Lloyds , and our solicitor is on the Lloyds conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Lloyds conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
How does conveyancing in East Finchley differ for new build properties?
Most buyers of new build property in East Finchley contact us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is built. This is because builders in East Finchley typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in East Finchley or who has acted in the same development.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the sale of our £450,000 garden flat in East Finchley in six days. The management company has quoted £384 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in East Finchley?
For most leasehold sales in East Finchley conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Addressing conveyancing due diligence enquiries
Where consent is required before sale in East Finchley
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I own a first flat in East Finchley. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the amount due for the purchase of the freehold?
in cases where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to judgment on the price payable.
An example of a Lease Extension case for a East Finchley flat is Ground Floor 110 Station Road in June 2013. The Tribunal found that the premium payable for a lease extension should be £31,665. This case related to 1 flat. The unexpired term as at the valuation date was 56.65 years.
I pay a service charge for my flat in East Finchley. Due to losing my job and personal issues I slipped behind with payments. I negotiated a clearance plan but there remains in the region of £3000 outstanding as of today.
I am under pressure to dispose of the property and I am panicking this could jeopardize the sale if I have to discharge the arrears now. Do I have to settle before - is this achievable?
You should clarify with the solicitor dealing with your East Finchley conveyancing but it might be possible to arrange for the arrears to be passed to the buyers. The contractual price payable would be adjusted to reflect the amount of debt they assume. They would then discharge the outstanding monies once they are the owners.