I have just been advised by my estate agent that my Homerton solicitor is not on the mortgage company Solicitor panel. What can I do to be certain if this is indeed the case?
Your first step should be to contact your Homerton conveyancer. You lawyer should notify you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
Please explain the implications if my lawyer’s firm is suspended from the Yorkshire BS Solicitor panel ahead of completing my conveyancing in Homerton?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I am buying a new build flat in Homerton. 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 legal work.
Here are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Homerton
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are surveyor prepared. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. 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.
I am looking for a flat up to £235,500 and identified one close by in Homerton I like with amenity areas and station in the vicinity, however it only has 52 remaining years left on the lease. I can't really find anything else in Homerton suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a home loan the shortness of the lease will be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
My business partner and I are intending to take an assignment of a lease of a shop on the high street. Can you recommend solicitors offering no-sale-no charges for non-domestic conveyancing in Homerton for less than 2k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Homerton, including the sale and purchase of businesses as well as simply property. If you are looking to purchase or sell a shop, pub, restaurant, office, retail unit or a whole business we will find you the right solicitor. Regarding the costs these will vary based on the structure and terms of the proposed transaction. Let us have your contact information or phone so as to enable us to provide you with comprehensive commercial conveyancing calculation.
I own a leasehold house in Homerton. Conveyancing and Nottingham Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Homerton who acted for me is not around. What should I do?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to instruct a Homerton conveyancing solicitor to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I inherited a basement flat in Homerton. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
Absolutely. We are happy to put you in touch with a Homerton conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Homerton residence is 104 Nightingale Road in May 2009. The Tribunal's Decision is that the premium torbe paid for the enfranchisement in this case is £112,174 This case related to 10 flats. The remaining number of years on the lease was 71.25 years.