Having sold my house in Chingford last January yet the purchaser is texting every few hours complaining that their solicitor needs to hear from mine. What are the post completion sale formalities following completion?
Following your house sale your conveyancer should deliver the transfer documentation and all supplemental paperwork to the purchaser's lawyers. Where appropriate, your conveyancer must also send confirmation that the mortgage has been repaid to the purchasers lawyers. There is unlikely to be post completion requirements unique to conveyancing in Chingford.
We are buying a house in Chingford. I might seem paranoid but how we can trust a lawyer? On completion day we have to put money into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am currently in the process of buying my council flat in Chingford. I have a mortgage agreed with UBS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with UBS, you will need to appoint a solicitor on the UBS conveyancing panel.
I can not work out if my mortgage offer requires a lease extension. I have called my Chingford bank branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Chingford conveyancing solicitor - who is on the lender conveyancing panel- called and was told they will not lend based on their specific requirements. I have no idea who is right.
Your lawyer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am buying a new build flat in Chingford. Conveyancing is necessary evil 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.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Chingford
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are surveyor prepared. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I am looking for a leasehold apartment up to £195,000 and found one near me in Chingford I like with amenity areas and station nearby, however it only has 51 years unexpired on the lease. There is not much else in Chingford in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a mortgage that many years will likely be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
My partner has suggested that I instruct his lawyers for conveyancing in Chingford. Should I use them?
Much as we are happy to recommend a Chingford conveyancing lawyer the ideal way to choose a conveyancing practitioner is to have guidance from friends or relatives who have experience in using the solicitor you're contemplating using.
I have just started marketing my 2 bed flat in Chingford. Conveyancing lawyers have not yet been instructed, however I have just received a half-yearly service charge demand – should I leave it to the buyer to sort out?
It best that you discharge the invoice as you normally would because all rents and service invoices will be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I own a ground floor flat in Chingford. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
Most definitely. We can put you in touch with a Chingford conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Chingford residence is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case was in relation to 2 flats. The unexpired term as at the valuation date was 69.26 years.