I have 70 years unexpired on my lease and need a lease extension for my flat in Mile End. 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 obtaining 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 15/1/2020 the requirements read as follows :
Various online forums that I have frequented warn that are a common cause of stalling in Mile End conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of delay in conveyancing in Mile End.
Despite weeks of looking the Title Certificate and documents to my home are lost. The lawyers who dealt with the conveyancing in Mile End 4 years ago no longer exist. What are my next steps?
As long as the title is registered the details of your proprietorship will be held by HMLR with a Title Number. It is possible to perform a search at the Land Registry, find your property and order current copies of the Registered Entries for less than a fiver. If the title is Leasehold then the Land Registry will in most cases hold a file copy of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
How does conveyancing in Mile End differ for new build properties?
Most buyers of new build or newly converted property in Mile End contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is ready to move into. This is because developers in Mile End usually purchase the real estate, 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 conveyancers 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 accustomed to new build conveyancing in Mile End or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a property in Mile End before retaining conveyancers. I have been told that there is a flying freehold element to the house. My surveyor has said that some lenders tend refuse to issue a loan on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. If you call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Mile End. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Mile End to see if the conveyancing costs will increase in light of this.
My partner has encouraged me to instruct his conveyancers in Mile End. Should I use them?
There are no two ways about it the best way to find a conveyancing lawyer is to seek guidance from friends or family who have previously instructed the firm that you are are thinking of instructing.