I have 7378 less than 75 years left on my lease and require a lease extension for my flat in Grove Park. Conveyancing solicitors on the Chelsea Building Society panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 31/1/2023 the requirements read as follows :
Will my solicitor be raising questions regarding flooding during the conveyancing in Grove Park.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Grove Park. There are those who buy a property in Grove Park, fully aware that at some time, it may be flooded. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, but there are a numerous checks that can be undertaken by the purchaser or on a buyer’s behalf which should figure out the risks in Grove Park. The standard property information forms supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the seller to determine if the premises has ever been flooded. If flooding has previously occurred which is not disclosed by the owner, then a purchaser may commence a legal claim for losses as a result of such an incorrect response. A buyer’s solicitors should also order an environmental search. This will higlight whether there is any known flood risk. If so, further investigations should be initiated.
The deeds to our home can not be found. The lawyers who dealt with the conveyancing in Grove Park 4 years ago have long since closed. What do I do?
You no longer need to hold title deeds to prove you are the registered proprietor of land or property, as the Land Registry have everything they need in a digital format.
How does conveyancing in Grove Park differ for new build properties?
Most buyers of new build or newly converted property in Grove Park contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is completed. This is because developers in Grove Park typically acquire 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 used to new build conveyancing in Grove Park or who has acted in the same development.
We're new to the buying process - had an offer accepted, but the agent advised that the seller will only move forward if we instruct their recommended conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a family conveyancer accustomed to conveyancing in Grove Park
We suspect that the owner is not behind this ultimatum. Should the owner desire ‘a quick sale', alienating a motivated buyer is is going to put the whole deal at risk. Try to communicate with the vendors directly and explain that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you intend to proceed fast (e)however you intend to use your own,trusted Grove Park conveyancing solicitors - not the ones that will give the negotiator at the agency a referral fee or achieve conveyancing targets set by senior management.
I am on look out for some leasehold conveyancing in Grove Park. Before I set the wheels in motion I want to be sure as to the remaining lease term.
If the lease is recorded at the land registry - and most are in Grove Park - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the registered owner of a a ground floor purpose built flat in Grove Park. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
in cases where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the price payable.
An example of a Lease Extension case for a Grove Park residence is 49 Woodstock Court Burnt Ash Hill in May 2012. the payment of £64,116 by the leaseholder was the premium which the Tribunal found due for the lease extension in this case. This case affected 1 flat. The unexpired term was 23.26 years.