I have given 8 weeks notice to my existing landlord and must be out of my let out apartment in Belgravia by the end of next month. Conveyancing on my purchase is progressing. How realistic is it to complete in a couple of weeks as I wish to avoid having to find temporary accommodation?
Generally one should not serve notice for your letting until exchange of contracts has taken place. If you have not previously done so, contact to your solicitor and ask them to they cajole the other solicitors, try to get a realistic time scale from them that all parties will aim to achieve
My property lawyer in Belgravia has never been on on the Godiva Mortgages Ltd Conveyancing Panel. Can I still continue with my prefered solicitor notwithstanding that they are not on the Godiva Mortgages Ltd approved list?
Your options are as follows:
- Carry on with your existing Belgravia lawyers but Godiva Mortgages Ltd will need to use a solicitor on their list of acceptable firms. This will result in additional total conveyancing charges and result in delays.
- Get an alternative solicitor to to deal with the conveyancing, obviously checking they are Persuade your solicitor to use their best endeavours to join the Godiva Mortgages Ltd conveyancing panel
It has been 3 months following my purchase conveyancing in Belgravia took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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 residence 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 Belgravia differ for new build properties?
Most buyers of new build residence in Belgravia come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is built. This is because builders in Belgravia tend to 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 conveyancers 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 Belgravia or who has acted in the same development.
I am a negotiator for a long established estate agent office in Belgravia where we have experienced a number of leasehold sales jeopardised due to short leases. I have been given conflicting advice from local Belgravia conveyancing firms. Could you clarify whether the owner of a flat can initiate the lease extension process for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 buyer.
Despite our best endeavours, we have been unsuccessful in trying to purchase the freehold in Belgravia. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most certainly. We can put you in touch with a Belgravia conveyancing firm who can help.
An example of a Lease Extension case for a Belgravia property is Flat 3 47 Cadogan Square in December 2010. the Tribunal determined that the premium payable to the landord by the leaseholder for the lease extension was £732,935 This case affected 1 flat. The number of years remaining on the existing lease(s) was 13.33 years.
What is the difference between surveying and conveyancing in Belgravia?
Conveyancing - in Belgravia or elsewhere - is the legal term given to transferring legal title of property from one person to another. It involves the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you’re buying and will help you discover the condition of the building and, if there are problems, give you a powerful reason for reducing the price down or asking the seller to fix the defects prior to you complete your move.