I am in a contract race with another buyer for a property in Childs Hill. What can I do to speed up matters?
In the event that the seller is applying a tight deadline to sign contracts it is advisable to make sure that your lawyer is familiar with the area as they will have local contacts and intelligence. It is even conceivable that they may have transacted previoushouses in the same neighbourhood. Therefore consider using a Childs Hill conveyancing solicitor. Second, be sure that the lawyer is on the lender panel. It is understood that 18% of Childs Hill conveyancing deals are frustrated or jeopardised after discovering a buyer’s lawyer was not on their mortgage lender’s member panel. This can often result in the buying process being delayed by an average of three weeks. It is believed that this issue impacts in the region of 100,000 home sales every year. Almost all Childs Hill conveyancing firms can not act for certain lenders so do check at the outset.
Is there a reason why leasehold purchase conveyancing in Childs Hill is more expensive?
In short, leasehold conveyancing in Childs Hill and elsewhere usually involve extra work compared to freehold conveyancing. This includes checking the lease terms, communicating with the landlord concerning the service of appropriate notices, procuring up-to-date service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first entered into.
The deeds to our home are lost. The conveyancers who dealt with the conveyancing in Childs Hill 4 years ago have long since closed. Will I be able to sell the house?
In today’s world there are duplicates made of almost everything, and your conveyancer will be aware precisely where to find all the relevant documentation so you can buy or dispose of your house without a hitch. If copies are not available, your lawyer may be able to put in place insurance or indemnities protecting you against future claims on the premises.
How does conveyancing in Childs Hill differ for newly converted properties?
Most buyers of new build residence in Childs Hill contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Childs Hill usually purchase the site, 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 Childs Hill or who has acted in the same development.
I decided to have a survey carried out on a property in Childs Hill in advance of retaining lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some banks will refuse to give a loan on this type of house.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. If you e-mail us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Childs Hill. Conveyancing may be slightly more expensive based on your lender's requirements.
There are only 72 years left on my lease in Childs Hill. I need to get lease extension but my landlord is absent. What are my options?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to track down the landlord. On the whole a specialist may be helpful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to devolving into the landlord’s absence and the application to the County Court covering Childs Hill.
I own a a ground floor purpose built flat in Childs Hill. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
if there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to make a decision on the price.
An example of a Lease Extension decision for a Childs Hill property is Flat A 372 Cricklewood Lane in January 2013. The Tribunal decided that the premium for the extended lease should be £5,750.00 and that the terms of the new lease should be those set out in annex to the decsion This case affected 1 flat.