Can you explain why leasehold purchase conveyancing in Enfield Lock is more expensive?
Enfield Lock leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving relevant notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My property lawyer in Enfield Lock is not listed on the Norwich and Peterborough Building Society Conveyancing Panel. Is it possible for me to continue with my prefered solicitor even though they are not on the Norwich and Peterborough Building Society approved list?
Your options are as follows:
- Carry on with your preferred Enfield Lock lawyers but Norwich and Peterborough Building Society will need to use a conveyancer on their panel. This will inevitably rack up the total legal charges and cause frustration.
- Get an alternative practitioner to to deal with the purchase, not forgetting to check they are Convince your conveyancer to do everything within their powers to join the Norwich and Peterborough Building Society conveyancing panel
I'm converting the mortgage on my primary property to a BTL mortgage with Coventry Building Society and intend to use the remaining equity towards further house. The neighborhood we are talking about is Enfield Lock. Will your conveyancers be able to act for both sets of lenders and link together the conveyances?
Make use of our search tool on this site to check that the lawyers are on the relevant lender panels. Having checked that they are your lawyer should be able to simultaneously deal with the two deals but you should have a chat with you solicitor and make clear your expectations and requirements.
In my capacity as executor for the will of my uncle I am selling a house in Neath but live in Enfield Lock. My lawyer (based 300 miles awayrequires that I execute a statutory declaration prior to completion. Could you suggest a conveyancing practitioner in Enfield Lock who can attest this legal document for me?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are based in Enfield Lock
I am looking at a couple of apartments in Enfield Lock both have approximately forty five years remaining on the lease term. Will this present a problem?
There are no two ways about it. A leasehold flat in Enfield Lock is a wasting asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the property. The majority of purchasers and lenders, leases with under eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Enfield Lock conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Having spent years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Enfield Lock. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Enfield Lock conveyancing firm who can help.
An example of a Vesting Order and Purchase of freehold matter before the tribunal for a Enfield Lock residence is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case related to 2 flats. The unexpired lease term was 80.01 years.
My wife and I hope to purchase our 1st house in Enfield Lock. Conveyancing solicitor has been chosen. The mortgage adviser pointed out that a survey is not necessary as the property was only constructed in 2002.
The bare minimum you need a Home Buyer's Report. As the residence is over ten years old the property will not come with a warranty, so you don't want to take a risk. Where a property of this age shows no signs of defects a Home Buyer's report could be enough. They will highlight any apparent issues and recommend additional investigation where relevant. If there are any signs of material issues obtain a full structural survey.