We are soon to complete on the purchase of a property in South Ruislip but as a result of wreckage from the recent storms I have was able negotiate reparation from the current proprietors of £3k in the form of a reduction in the price. This was going to be addressed as part of the conveyancing process however Santander will not agree to this. Should they have been notified?
Your property lawyer that is on the Santander conveyancing panel is obliged to disclose to Santander of any amendments to the purchase price. If you were to refuse your conveyancer to notify the price change to Santander then they would have to discontinue acting for you. In addition, Santander and you would have to appoint a new property lawyer for your conveyancing in South Ruislip.
Is there a reason why leasehold purchase conveyancing in South Ruislip is more expensive?
In summary, leasehold conveyancing in South Ruislip and elsewhere usually requires additional hours of investigation compared to freehold conveyancing. This includes lease investigation, liaising with the landlord concerning serving required notices, obtaining current service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first granted.
I opted to have a survey carried out on a house in South Ruislip prior to retaining lawyers. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some banks may not give a loan on such a property.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. If you call us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in South Ruislip. Conveyancing will be smoother if you use a solicitor in South Ruislip especially if they are accustomed to such properties in South Ruislip.
I have been recommended by a few selling agents in South Ruislip to locate a conveyancer using your seach tool. What’s the financial inducement for Estate Agents to recommend your lawyers over and above alternative conveyancing organisations?
We refuse to offer any financial incentive for pointing buyers and sellers to this site. We found it would be just too difficult to pay a commission because a client could think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
Should I use a South Ruislip conveyancing lawyer in close proximity to the house I am buying? I have an old university friend who can conduct the legal formalities but her office is 200kilometers away.
The primary upside of using a high street South Ruislip conveyancing practice is that you can drop in to sign paperwork, deliver your ID and pester them if necessary. They will also have local intelligence which is a plus. That being said it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and on the whole were impressed that must outweigh using an unfamiliar South Ruislip conveyancing lawyer just because they are based in the area.
I am employed by a reputable estate agent office in South Ruislip where we see a number of flat sales jeopardised due to short leases. I have been given inconsistent advice from local South Ruislip conveyancing firms. Could you clarify whether the seller of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
We have reached the end of our tether in seeking a lease extension in South Ruislip. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to decide the premium.
An example of a Lease Extension case for a South Ruislip flat is Flat 72 Queens Walk in January 2013. The Tribunals calculated the premium payable to be £22,090. This case related to 1 flat. The remaining number of years on the lease was 53.26 years.