I am considering refinancing my flat in Chalk Farm, does my lawyer have to be on the Nationwide Conveyancing panel?
In theory, you could use a solicitor that is not on the Nationwide conveyancing panel, but Nationwide would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The solicitors who dealt with the conveyancing in Chalk Farm 4 years ago have long since closed. What do I do?
Gone are the days when you need to have the physical official documentation to evidence that you are the owner of your registered land or property, as the Land Registry hold details of all registered land or property electronically.
About to purchase a new build flat in Chalk Farm. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Chalk Farm
-
The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I opted to have a survey carried out on a property in Chalk Farm in advance of appointing lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some banks may not grant a loan on this type of house.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Chalk Farm. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Chalk Farm to see if the conveyancing will be more expensive.
Do you have any top tips for leasehold conveyancing in Chalk Farm from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Chalk Farm can be avoided where you instruct lawyers as soon as you market your property and request that they start to put together the leasehold information needed by the purchasers’ solicitors. Many freeholders or managing agents in Chalk Farm charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Chalk Farm. You believe that you know the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A purchaser's conveyancer will not be happy to advise their client to where the lease term is less than 75 years. It is therefore important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be concerned about purchasing a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is better to reveal the dispute as over as opposed to unresolved.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Chalk Farm conveyancing firm to represent me?
if there is a missing landlord or where there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the LVT to assess the amount due.
An example of a Lease Extension matter before the tribunal for a Chalk Farm property is Flat 2 27 Mackeson Road in December 2012. The Tribunal assessed the value of the lease extension premium at £35,435 and rounded the figure to £35,500 This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 64.77 years.
Why is New Build conveyancing in Chalk Farm more expensive?
Buying a brand new premises is significantly distinct from the normal house buying conveyancing in Chalk Farm. Firstly housebuilders normally require contracts to exchange inside a short timeframe, the result being a lot of pressure on your property lawyer to ensure everything is in order. Furthermore new build premises frequently necessitate the checking of adoption of highways, drains, planning considerations, building warranties or architects certificates. Mortgage company requirements are also more detailed. Given the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.