It has come to my attention via my estate agent that my Becontree Heath solicitor is not on the lender Solicitor panel. What can I do to be certain if this is indeed the case?
The first thing you need to do is to call your Becontree Heath lawyer directly. It is reasonable to expect your lawyer to inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
3 months have gone by since my purchase conveyancing in Becontree Heath took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Becontree Heath differ for new build properties?
Most buyers of new build residence in Becontree Heath approach us having been asked by the builder to exchange contracts and commit to the purchase even before the property is finished. This is because developers in Becontree Heath usually buy the real estate, 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 Becontree Heath or who has acted in the same development.
I am looking for a leasehold apartment up to £305k and found one near me in Becontree Heath I like with open areas and railway links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Becontree Heath in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage the shortness of the lease will be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
Looking forward to sign contracts shortly on a ground floor flat in Becontree Heath. Conveyancing solicitors inform me that they will have a report out to me on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Becontree Heath should include some of the following:
-
Repair and maintenance of the premises You should know whether the lease allows you to add or improve aspects of the property- you must be made aware as to whether any restrictions applies to all alterations or just structural alteration, and whether licences for alterations is required Advice as to the provision as set out in the lease to to contribute towards maintenance costs - with regard to both the building, and the more general rights a tenant has Whether your lease has a provision for a reserve account for major repairs? How long the lease is. You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years
My wife and I have hit a brick wall in trying to purchase the freehold in Becontree Heath. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a absentee landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to make a decision on the premium.
An example of a Lease Extension case for a Becontree Heath property is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case was in relation to 1 flat. The unexpired term was 61.36 years.
I need to change lawyers as my Becontree Heath lawyer is not on the lender's panel of conveyancing solicitors. How simple is it to change conveyancer?
If you haven't yet instructed a solicitor to do anything for you and have just received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Becontree Heath that you're thinking of instructing.