After looking at moneysavingexpert.com for a recommended solicitor in Norwood, most advise that I must look for a CQS accredited lawyer. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home moving process, trusted by some of the UK's biggest mortgage companies. Four years ago the Conveyancing Quality Scheme was officially recognised by the Legal Ombudsman. CQS is not a scheme offered by the Society for Licensed Conveyancers. Norwood is one of the many areas in England and Wales where there are Accredited solicitors.
A colleague advised me that where I am purchasing in Norwood I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Norwood conveyancing searches. It is a large document of more than thirty pages, listing and setting out significant information about Norwood around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information regarding Norwood.
How does conveyancing in Norwood differ for newly converted properties?
Most buyers of new build or newly converted property in Norwood come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Norwood typically 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 Norwood or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what should have been a quick, chain free conveyancing. Norwood is the location of the property. Is there any guidance you can give?
Flying freeholds in Norwood are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Norwood 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 Norwood may ascertain 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.
How straightforward is it to use your search tool to get a quote from a conveyancing solicitor in Norwood on the panel for my lender?
Step one is to pick a lender such as Accord Mortgages Ltd, Chelsea Building Society or Aldermore then type in your preferred area for example Norwood. Conveyancing organisations in Norwood and nationally should be identified.
I only have Fifty years remaining on my flat in Norwood. I am keen to get lease extension but my landlord is absent. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you have made all reasonable attempts to find the lessor. On the whole an enquiry agent would be useful to try and locate and prepare an expert document to be used as proof that the freeholder can not be located. It is advisable to get professional help from a solicitor both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Norwood.
I own a ground floor flat in Norwood, conveyancing having been completed December 2002. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Norwood with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease terminates on 21st October 2093
You have 69 years remaining on your lease we estimate the price of your lease extension to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.