I am buying a house for cash in Woodford. I have been living for the last 15 years in Woodford. Conveyancing searches are a lot of money. Given that I have knowledge of the area and road intimately must I have all the conveyancing searches?
If you not getting a home loan, then the vast majority of the Woodford conveyancing searches are optional. Your conveyancer will try and steer you, perhaps strongly, that you should have searches carried out, but she is duty bound to take that path of advice. One thing to take into account; if you are intend to dispose of the house at a future date, it will be of importance to your future purchaser what the searches reveal. On occasion houses with day to day issues can still reveal detrimental search results. A competent conveyancing solicitor in Woodford should provide you some practical advice concerning this.
In what way does my ID and proof of funds have anything to do with my conveyancing in Woodford? Why is this being asked of me?
To satisfy the Money Laundering Regulations any Woodford conveyancing firm will require proof of identity in all conveyancing matters. This is normally dealt with by provision of a passport and an original bank statement or utility bill evidencing where you reside.
Under Money Laundering Regulations, property lawyers are obliged by law to investigate not simply the ID of conveyancing clients but also the origin of the money that they receive in respect of any matter. Refusal to disclose this may lead to your lawyer cancelling their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to make a disclosure to the relevant authorities should they believe that any monies received by them may contravene the Anti-terror and anti-money-laundering rules.
Can you point me to a directory of UBS panel solicitors in Woodford on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. A small selection of lending institutions make their panel listings open the public on the web. Where you are in need of a Woodford conveyancer on the UBS please use our tool.
I am currently in the process of buying my council flat in Woodford. I have a mortgage offer with Coventry BS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
I am due to exchange contracts on my flat. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, UBS are being difficult. The Woodford solicitor who is on the UBS conveyancing panel is saying indemnity insurance will be fine but UBS are requiring a building regulation certificate. Why do UBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that UBS have referred the matter to their valuer. The reason why UBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My wife and I own a renovated Georgian property in Woodford. Conveyancing lawyer represented me and Aldermore. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Woodford and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with the conveyancing practitioner who conducted the conveyancing.
I am looking for a ground for flat up to £195,000 and found one close by in Woodford I like with a park and station nearby, however it's only got 51 years unexpired on the lease. There is not much else in Woodford in this price bracket, so just wondered if I would be making a mistake buying a short lease?
Should you need a mortgage the remaining unexpired lease term may be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you may request that they 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 and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
I am a negotiator for a reputable estate agency in Woodford where we have witnessed a few flat sales jeopardised as a result of short leases. I have received conflicting advice from local Woodford conveyancing firms. Could you shed some light as to whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner 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 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 at the same time as 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 buyer.
Despite our best endeavours, we have been unsuccessful in trying to purchase the freehold in Woodford. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing landlord or where there is disagreement 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 amount due.
An example of a Freehold Enfranchisement decision for a Woodford property is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case related to 2 flats. The unexpired lease term was 69.26 years.