Do lawyers request money up-front when it comes to conveyancing in New Eltham?
If you are buying a property in New Eltham your solicitor will request that you put them with funds to cover the the cost of the conveyancing searches. Generally this is called for to cover the fees of the conveyancing searches. If any down payment is as part of the purchase price then this will be asked for immediately in advance of contracts are exchanged. The final balance that is needed should be sent to your lawyer a few days prior to the day of completion.
We are purchasing a house and the solicitor has mentioned Chancel Repair for which the house could be obligated to contribute to as it falls into the area of such a church. She has mentioned insurance. Is this strictly warranted for conveyancing in New Eltham
Unless a prior acquisition of the property completed post 12 October 2013 you could expect solicitors conducting conveyancing in New Eltham to remain encouraging a chancel search and or insurance against a claim.
I have a renovated Edwardian house in New Eltham. Conveyancing lawyer represented me and National Westminster Bank. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold with the matching address. Is it worth asking National Westminster Bank to clarify?
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in New Eltham and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with your conveyancing lawyer who conducted the purchase.
Just had an offer accepted on a new build apartment in New Eltham. 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.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in New Eltham
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. There must be mutual enforceability of lessee’s covenants. Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please confirm the Lease plans are surveyor prepared.
Over the last few months I have been searching for a flat up to £195,000 and found one near me in New Eltham I like with a park and transport links nearby, the downside is that it only has 49 years on the lease. I can't really find anything else in New Eltham suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
My wife and I have hit a brick wall in seeking a lease extension in New Eltham. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We are happy to put you in touch with a New Eltham conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a New Eltham flat is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.
When it comes to leasehold conveyancing in New Eltham what are the most common lease problems?
There is nothing unique about leasehold conveyancing in New Eltham. Most leases are unique and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
Maintenance charge proportions which don’t add up to the correct percentage A duty to insure the building
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Chelsea Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to withdraw.