How does conveyancing in Whetstone differ for new build properties?
Most buyers of new build residence in Whetstone contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because builders in Whetstone typically buy 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 property lawyers 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 Whetstone or who has acted in the same development.
I have been on the look out for a flat up to £235,500 and identified one round the corner in Whetstone I like with amenity areas and transport links nearby, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Whetstone 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 shortness of the lease will likely be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
Is it possible to switch conveyancer as I need to retain a firm on the TSB conveyancing panel. I had appointed a family conveyancing solicitor in Whetstone round the corner but he is not accepted by TSB
We will our best to assist in finding you a conveyancing solicitor in Whetstone on the TSB panel. Please note that the conveyancers that we on the directory do not pay us fee if you instruct them and are under regulation of the Solicitors Regulation Authority who regulate all conveyancing solicitors in Whetstone. Using search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Whetstone.
I've recently bought a leasehold flat in Whetstone. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner 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. A critical element 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 tried to negotiate informally with with my landlord to extend my lease without success. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Whetstone conveyancing firm to help?
in cases where there is a missing landlord or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the amount due.
An example of a Lease Extension case for a Whetstone property is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The unexpired term as at the valuation date was 76 years.
Do online conveyancing organisations undertake everything a high street Whetstone solicitor does or must I employ a solicitor for the final stages for my conveyancing in Whetstone?
Where you choose an online conveyancer they will undertake all the things your Whetstone solicitor will cover.