I have 7378 less than 75 years unexpired on my lease and need a lease extension for my apartment in Old Ford. Conveyancing solicitors on the Chelsea Building Society panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting 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 19/7/2024 the requirements read as follows :
I am assisting my mother sell her flat in Old Ford. Does the conveyancing solicitor arrange an energy performance certificate or do I organise this?
Following the abolition of Home Information Packs, energy assessments was kept a required part of selling a property. An EPC should be commissioned before the property is marketed. It is not a task that law firms ordinarily organise. Where you are instructing a Old Ford conveyancing solicitor they might be able to arrange EPC’s due to their contacts with reputable Old Ford providers
I'm the single beneficiary of my late father’s will and I have everything in my name now, including the my former home in Old Ford. Conveyancing formalities meant that the Land Registry date was in June. I plan to dispose of the house. I understand that there is a CML six month 'rule', which means that my property ownership will be treated the same way as if I'd bought the house in June. Is the property unsalable for six months?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. How sensible a view lenders take of it, depend on the lender as this provision primarily exists to pick up on the purchase and immediately sell or the flipping of properties.
I'm in the process of viewing houses in Old Ford and I am about to put in an offer. Is it best to have a lawyer on ‘stand by’? I will be getting a home loan with Virgin Money.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. Given that you are taking out a mortgage with Virgin Money, ask your prospective lawyers if they are on the Virgin Money conveyancing panel otherwise they can't do the mortgage legal work.
I require expedited conveyancing in Old Ford as I have pressure to exchange contracts inside 3 weeks. A mortgage is not required. Can I avoid the conveyancing searches to save money and time?
As you are not taking a mortgage you have the choice not to have searches conducted although no lawyer would recommend that you don't. Drawing on our experience of conveyancing in Old Ford the following are examples of issues that can show up and therefore affect market value: Enforcement Actions, Outstanding Charges, Outstanding Grants, Railway Schemes,...
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Old Ford is where the house is located. Is there any advice you can impart?
Flying freeholds in Old Ford are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Old Ford you would need to get your solicitor to go 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 Old Ford may decide 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.
I was pointed in your direction by numerous estate agents in Old Ford to choose a solicitor on your site. Is there a financial incentive for Estate Agents to market your lawyers over and above another?
We don’t give any referral fee for directing people in our direction. We found it would be just too difficult a fee because home movers will think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
Planning to sign contracts shortly on a ground floor flat in Old Ford. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Old Ford should include some of the following:
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Responsibility for repairing the window frames The landlord’s rights to access the flat. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Rent payments - what is payable and when is collected, and be on notice if this will change in the future You should know if the lease permits you to alter or upgrade aspects of the property- you must know whether any restrictions relates to all alterations or just structural alteration, and whether consent is required The physical extent of the demise. This might be the flat itself but may incorporate a roof space or cellar if applicable.
My wife and I have hit a brick wall in seeking a lease extension in Old Ford. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to calculate the sum to be paid.
An example of a Freehold Enfranchisement decision for a Old Ford residence is 26 Rhondda Grove in June 2009. The net price payable by the leaseholders as determined by the Tribunal was £3,015.13. This comprised £11,300 premium for the reversion less £8,284.87 costs as ordered by the County Court.