I am purchasing a house without a mortgage in Maida Vale. I have resided for the last 15 years in Maida Vale. Conveyancing searches are a lot of money. Given that I know the road and vicinity intimately should I not bother getting the solicitor to do all the conveyancing searches?
Provided that you do not need a mortgage, then all but one or two of the Maida Vale conveyancing searches are at your discretion. Your conveyancer will ’encourage you, perhaps strongly, that you should have searches done, but she is duty bound to do this. One thing to consider; if you are intend to sell the house at a future date, it will be of relevance to your future purchaser what the searches disclose. There are plenty of instances where premises with no practical issues can still reveal unpredicted search results. A good conveyancing solicitor in Maida Vale will be able to give you some constructive guidance in this regard.
Can you explain why leasehold purchase conveyancing in Maida Vale costs more?
Maida Vale leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I am thinking of remortgaging my property in Maida Vale, does my lawyer need to be on the Aldermore Conveyancing panel?
In theory, you could use a solicitor that is not on the Aldermore conveyancing panel, but Aldermore would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
How does conveyancing in Maida Vale differ for newly converted properties?
Most buyers of new build premises in Maida Vale contact us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Maida Vale usually acquire the land, 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 Maida Vale or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Maida Vale is the location of the property. Can you shed any light on this issue?
Flying freeholds in Maida Vale are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Maida Vale you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Maida Vale may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
There are only 68 years left on my flat in Maida Vale. I now want to extend my lease but my landlord is absent. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you have used your best endeavours to locate the lessor. For most situations a specialist would be useful to try and locate and prepare an expert document to be used as proof that the landlord can not be located. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Maida Vale.
I am the registered owner of a first floor flat in Maida Vale. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
You certainly can. We are happy to put you in touch with a Maida Vale conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Maida Vale premises is 4 & 4A Charteris Road in June 2009. the Tribunal held that the price to be paid for the enfranchisement of 4/4a Charteris Road to be £15,510 for at 4and £15,694 for at 4a This case affected 2 flats. The unexpired term as at the valuation date was 70.02 years.