After what seems like an age a loan agreement from Santander for the remortgage of my single room garden flat is due imminently. Could you recommend a low cost conveyancing lawyer in Streatham?
This site is not designed to aid those in pursuit of the cheapest conveyancing in Streatham. We can offer you cost effective conveyancing but our intention is not to advertise as being the cheapest. Do not be seduced by organisations offering the bait of ninety nine pound conveyancing in Streatham. The optimum outcome, in deciding on low cost conveyancing, you will get your money’s worth and at worst it will result in you spending a lot in additional fees and still not end up with the service you were hoping for.
Can your site be used to find a Conveyancing solicitor in Streatham even if I’m not buying or selling a house, for example where I intend to buy an office in Streatham with a mortgage from Leeds Building Society?
The service is predominantly there to get a quote from residential conveyancing solicitors in Streatham but we have recorded at the bottom of this page some Streatham commercial conveyancing firms. You should speak with the solicitors directly to see if they can also act for Leeds Building Society
Are there restrictive covenants that are commonly picked up as part of conveyancing in Streatham?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Streatham. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Streatham differ for newly converted properties?
Most buyers of new build premises in Streatham come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Streatham typically purchase the land, 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 conveyancing solicitors 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 Streatham or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £235,500 and found one round the corner in Streatham I like with open areas and transport links nearby, the downside is that it only has 49 remaining years left on the lease. I can't really find anything else in Streatham suitable, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage that many years may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I am a negotiator for a busy estate agent office in Streatham where we have witnessed a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have received inconsistent advice from local Streatham conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence 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 for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
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.
My wife and I have hit a brick wall in seeking a lease extension in Streatham. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to arrive at the price payable.
An example of a Lease Extension decision for a Streatham flat is Flat 12, Newlands Court Streatham Common North in May 2012. the decision of the Tribunal was that the premium payable by the Applicants to the Respondent for the new lease of the Premises be £70,140. This case related to 1 flat. The unexpired residue of the current lease was 23.25 years.