My aunt advised me that in purchasing a property in Elm Park there may be a number of restrictions preventing external changes to a property. Is this right?
There are a number of properties in Elm Park which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Elm Park should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Can I be sure that the Elm Park conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Elm Park getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer conducting your transaction.
I have decided to exercise my right to buy my property in Elm Park off the council. I have a mortgage agreed with HSBC. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Elm Park?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Elm Park. 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…’
About to purchase a new build apartment in Elm Park. Conveyancing is necessary evil 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 are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Elm Park
Please confirm the Lease plans are surveyor prepared. 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. 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. The Vendor must covenant to keep unoccupied 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.
I decided to have a survey carried out on a property in Elm Park before instructing solicitors. I have been informed that there is a flying freehold element to the property. The surveyor advised that some banks tend not issue a mortgage on such a premises.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Elm Park. Conveyancing will be smoother if you use a solicitor in Elm Park especially if they are accustomed to such properties in Elm Park.
I'm refinancing my primary property to a buy to let mortgage with Accord Mortgages Ltd and I will use the rest of the raised equity as a down payment on further property. The area we are interested in is Elm Park. Will your lawyers be able to act for the two banks and tie in the two deals?
Do use our comparison tool on this site to be sure that the solicitors are on the appropriate lender panels. On the basis that they are the conveyancer should be able to tie up the two deals but you should have a chat with you lawyer and make apparent your expectations and needs.
I am tempted by the attractive purchase price for a couple of maisonettes in Elm Park both have in the region of forty five years remaining on the leases. Will this present a problem?
There are plenty of short leases in Elm Park. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease decreases and it becomes more costly to extend the lease. For this reason it is often a good idea to extend the lease term. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area.
I have had difficulty in negotiating a lease extension in Elm Park. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Elm Park conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Elm Park flat 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 affected 1 flat. The unexpired lease term was 57.5 years.