Should lawyers request money up-front for my conveyancing in Stamford Hill?
Where you are retaining lawyers for conveyancing in Stamford Hill your lawyer will request that you to provide them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. When the deposit is payable against the total price then this will be needed immediately prior to exchange of contracts. The final balance that is needed should be sent to your lawyer a couple of days prior to the completion date.
I am refinancing my flat in Stamford Hill, does my lawyer have to be on the Nottingham Conveyancing panel?
In theory, you could use a solicitor that is not on the Nottingham conveyancing panel, but Nottingham would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Stamford Hill. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Stamford Hill
Please provide evidence that the form of Lease proposed has been approved by the Land Registry. 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. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Stamford Hill is where the house is located. What do you suggest?
Flying freeholds in Stamford Hill are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stamford Hill you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stamford Hill 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.
I work for a reputable estate agent office in Stamford Hill where we have experienced a few flat sales jeopardised as a result of short leases. I have been given inconsistent advice from local Stamford Hill conveyancing firms. Could you clarify whether the owner of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
Having spent years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Stamford Hill. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most certainly. We can put you in touch with a Stamford Hill conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Stamford Hill flat is Flat 25, Stamford Hill Mansions Stamford Hill in April 2010. The Tribunal therefore determined that the premium to be paid by the lessee to the freeholder for the extension of the lease should be £28,984.00 This case related to 1 flat. The unexpired term was 59 years.
My husband and I today become aware that one of the partners of the law firm handling the purchase conveyancing in Stamford Hill is a relative of the seller. Is this allowed?
Provided there is no conflict of interest this is allowable. Where you are obtaining a home loan then the lender may have a say as many lenders have specific instructions on this. For example for RBS - Virgin One as of 8/10/2021, the requirements read as follows :