Some advice if I may. My North Ockendon solicitor is assuring me that she is duty bound toconduct North Ockendon conveyancing searches asthe firm are on the Nat Westapproved lawyer panel. Is this really necessary?
You have limited options available to you. As you are obtaining a home loan with a mortgage company your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the CML Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out North Ockendon conveyancing searches.
How does conveyancing in North Ockendon differ for newly converted properties?
Most buyers of new build or newly converted property in North Ockendon contact us having been asked by the seller to exchange contracts and commit to the purchase even before the property is built. This is because builders in North Ockendon tend to 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 North Ockendon or who has acted in the same development.
I am looking for a flat up to £235,500 and identified one round the corner in North Ockendon I like with open areas and transport links in the vicinity, the downside is that it's only got 49 years on the lease. There is not much else in North Ockendon for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
As co-executor for the estate of my grandfather I am selling a property in Cardiff but reside in North Ockendon. My lawyer (who is 250 kilometers awayrequires that I execute a statutory declaration prior to completion. Could you suggest a conveyancing lawyer in North Ockendon who can attest this legal document for me?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are North Ockendon based
I am employed by a reputable estate agency in North Ockendon where we have witnessed a number of leasehold sales derailed due to short leases. I have received contradictory information from local North Ockendon conveyancing firms. Please can you confirm whether the seller of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
Provided that 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 can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
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 purchaser.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a North Ockendon conveyancing firm to assist?
Most certainly. We are happy to put you in touch with a North Ockendon conveyancing firm who can help.
An example of a Lease Extension decision for a North Ockendon flat is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The unexpired residue of the current lease was 57.5 years.