My husband and I are acquiring a newly built apartment in Woodford Green and my lawyer is informing me that she is duty bound to the mortgage company to disclose incentives from the builder. I am nearing the developer’s deadline to sign contracts and I don't want to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I purchased a freehold property in Woodford Green yet pay rent, why is this and what is this?
It is rare for properties in Woodford Green and has limited impact for conveyancing in Woodford Green but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
Is there a list of Barclays panel solicitors in Woodford Green on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings open the public on the web. If you are looking for a Woodford Green property lawyer on the Barclays please use our tool.
I am currently in the process of buying my council flat in Woodford Green. I have a mortgage offer with Barclays. Conveyancing is new to me. 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 Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
My offer on a semi in Woodford Green has been accepted, but there is a chain. The vendors have placed an offer on a flat, but it’s not yet tied up, and have viewings of other properties in the pipeline. I have selected a local conveyancing solicitor in Woodford Green. What should be my next step? When do I get the mortgage application with Aldermore started?
It is usual to have concerns where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is in the region of £1k, then valuation, Woodford Green conveyancing search charges, etc). The first course of action is to check that your lawyer is on the Aldermore conveyancing panel. Concerning the next stages this very much dictated by the uniqueness of your transaction, attraction to the property and on the state of the market. In a rising market many buyers will apply for a home loan with Aldermore and arrange for the valuation and only if it was satisfactory would they pay their conveyancer to press on with the conveyancing in Woodford Green.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Woodford Green is where the house is located. Can you shed any light on this issue?
Flying freeholds in Woodford Green are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Woodford Green you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Woodford Green may decide 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 residence.
I am looking into buying my first house which is in Woodford Green and I am already nervous. I couldn't find anything specific about Woodford Green. Conveyancing will be needed in due course but do you know about the Woodford Green area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Woodford Green. In the meantime here are some basic statistics that we found
Do you have any advice for leasehold conveyancing in Woodford Green with the purpose of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Woodford Green can be bypassed if you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold information needed by the purchasers’ conveyancers. Many landlords or managing agents in Woodford Green charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Woodford Green. If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share certificate. Organising a new share certificate is often a lengthy formality and delays many a Woodford Green conveyancing deal. If a new share certificate is necessary, you should approach the company officers or managing agents (where relevant) for this as soon as possible. You may think that you are aware of the number of years left on your lease but you should double-check via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the remaining number of years is less than 80 years. In the circumstances it is important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. In the event that you altered the property did you need the Landlord’s consent? In particular have you installed wooden flooring? Woodford Green leases often stipulate that internal structural changes or installing wooden flooring require a licence issued by the Landlord approving such changes. If you dont have the paperwork in place you should not contact the landlord without contacting your conveyancer before hand.
I have given up trying to purchase the freehold in Woodford Green. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a absentee freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to judgment on the price payable.
An example of a Freehold Enfranchisement case for a Woodford Green flat 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 lease term was 69.26 years.