It is 10 years ago since I bought my property in Birchgrove. Conveyancing lawyers have just been appointed on the sale but I can't track down the title documents. Is this a problem?
Don’t worry too much. First there is a possibility that the deeds will be kept by your mortgage company or they could be in the possession of the solicitor who handled the purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers procuring up to date copy of the land registers. Nearly all conveyancing in Birchgrove involves registered property but in the rare situation where your property is unregistered it is more problematic but is not insurmountable.
I have a decision in principle. The lender mentioned the home loan came with free conveyancing. Is the implication that I have to instruct their panel solicitor as I would much rather appoint a high street conveyancing solicitor in Birchgrove?
You should check but the the likelihood is that appoint one of their panel solicitors where you want the "fee-free" deal. Contact the mortgage company and check if they allow a cash alternative. Some mortgage companies have previously offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor in Birchgrove.
Do I need to take out insurance to cover chancel repairs when purchasing a residence in Birchgrove?
Unless a previous purchase of the property took place post 12 October 2013 you may expect solicitors carrying out conveyancing in Birchgrove to continue to advocate a chancel search and or insurance against a claim.
The estate agent has sent us the confirmation of our purchase of a new build flat in Birchgrove. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Birchgrove
-
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I am employed by a busy estate agency in Birchgrove where we have experienced a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Birchgrove conveyancing firms. Could you clarify whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease 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. The benefit of this is that the proposed purchaser can avoid having to sit tight for 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 sale.
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 invested in buying a studio flat in Birchgrove, conveyancing having been completed August 1997. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Birchgrove with over 90 years remaining are worth £255,000. The ground rent is £45 charged once a year. The lease ceases on 21st October 2098
With only 73 years left to run the likely cost is going to be between £8,600 and £9,800 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
What tools are available to find a Birchgrove conveyancing solicitor on the lender conveyancing panel? I have a car and am prepared to travel up to 15kilometers to meet the lawyer.
You can use the find a conveyancing panel tool on this page. Please choose the lender and your location, in this case Birchgrove and you will see a number of lawyer located nearest Birchgrove. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the mortgage company solicitor panel.