Willinstructing a Temple conveyancing lawyer make the legal transfer of property easier?
Existing third party connections are another important factor to consider when appointing conveyancing solicitors. Temple conveyancers enjoy connections with lenders and estate, local authorities, valuers and other conveyancing firms meaning the whole process is going to be much smoother for you. Possessing a well rounded experience in the local area is also a plus .
four months have gone by since my purchase conveyancing in Temple took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Temple differ for new build properties?
Most buyers of new build property in Temple contact us having been asked by the developer to sign contracts and commit to the purchase even before the property is ready to move into. This is because builders in Temple typically acquire 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 used to new build conveyancing in Temple or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £245,000 and found one near me in Temple I like with a park and transport links nearby, the downside is that it's only got 52 years on the lease. I can't really find anything else in Temple suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
In what way can the Landlord & Tenant Act 1954 affect my commercial offices in Temple and how can you help?
The 1954 Act affords security of tenure to business tenants, giving them the right to make a request to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and assist with commercial conveyancing in Temple
Last April I purchased a leasehold property in Temple. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have given up negotiating a lease extension in Temple. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We are happy to put you in touch with a Temple conveyancing firm who can help.
An example of a Lease Extension decision for a Temple property is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The unexpired residue of the current lease was 66.8 years.