I have given 2 months notice to my existing landlord and have to leave my let out property in Woodford by 6/8/2026. Conveyancing for my house purchase is underway. Is it possible to complete in 4 weeks as I wish to avoid having to move into short term accommodation?
It is unwise to serve notice on a rental unless you have exchanged. Assuming that you have not previously done so, update to your solicitor and request that they cajole the other lawyers, try to get a realistic time scale from them that all parties will aim towards
Various internet forums that I have frequented warn that are a common reason for delay in Woodford conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Woodford.
I am looking for a leasehold apartment up to £195,000 and found one close by in Woodford I like with a park and railway links nearby, however it only has 49 remaining years left on the lease. There is not much else in Woodford for this price, so just wondered if I would be making a grave error buying a short lease?
If you require a home loan that many years will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
How simple is it to change conveyancer as I have to choose a firm on the Nottingham Building Society conveyancing panel. I had appointed a local conveyancing solicitor in Woodford round the corner but he is not approved by Nottingham Building Society
We will our best to assist in finding you a conveyancing solicitor in Woodford on the Nottingham Building Society panel. Please note that the law firms that we work with do not pay us a referral fee if you instruct them and are under regulation of the Solicitors Regulation Authority who regulate all conveyancing solicitors in Woodford. Using the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Woodford.
I am attracted to a couple of apartments in Woodford which have in the region of fifty years unexpired on the leases. Do I need to be concerned?
There are no two ways about it. A leasehold apartment in Woodford is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. The majority of purchasers and mortgage companies, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Woodford conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I am the leaseholder of a ground floor flat in Woodford. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?
Most definitely. We are happy to put you in touch with a Woodford conveyancing firm who can help.
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 affected 2 flats. The unexpired term was 69.26 years.
The financial adviser has recommended their conveyancer for my conveyancing in Woodford - won’t it be better to just use them?
It is worth checking if the selling agent is recommending a conveyancing practitioner or introducing to a property lawyer. There are plenty of Woodford estate agents who recommend two or three Woodford conveyancing firms and get nothing from it.