I need some fast conveyancing in Cricklewood as I am under an ultimatum to complete inside one month. A mortgage is not required. Is it possible to avoid the conveyancing searches to save fees and time?
If.Given you are are a mortgage free purchaser you have the choice not to have searches conducted although no law firm would suggest that you don't. With plenty of history conveyancing in Cricklewood the following are examples of what can crop up and adversely impact future mortgageability: Enforcement Notices, Overdue Fees, Outstanding Grants, Unadopted Roads,...
Despite weeks of looking the Title Certificate and documents to our house are lost. The lawyers who handled the conveyancing in Cricklewood 5 years ago no longer exist. What are my next steps?
As long as the title is registered the information relating to your proprietorship will be held by HMLR with a Title Number. It is possible to conduct a search at the Land Registry, identify your property and secure current copies of the Registered Entries for less than a fiver. Where the title is Leasehold then the Land Registry will usually hold a certified copy of the Registered Lease and again, a copy can be ordered for a small fee.
Due to the advice of my in-laws I had a survey completed on a house in Cricklewood ahead of retaining solicitors. I have been told that there is a flying freehold element to the property. My surveyor has said that some lenders tend refuse to issue a mortgage on this type of home.
It varies from the lender to lender. Santander has different requirements from Halifax. If you contact us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Cricklewood. Conveyancing will be smoother if you use a solicitor in Cricklewood especially if they are accustomed to such properties in Cricklewood.
I have been recommended by a few selling agents in Cricklewood to find a property lawyer on your site. Is there a financial inducement for Estate Agents to market your site ahead of alternative conveyancing organisations?
We don’t offer any financial incentive for sending work to this site. We found it would be just too difficult a fee because members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am tempted by the attractive purchase price for a two apartments in Cricklewood both have approximately 50 years left on the leases. Will this present a problem?
There is no doubt about it. A leasehold apartment in Cricklewood is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to its expiry date, the more it reduces the value of the premises. For most purchasers and lenders, leases with less than eighty years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Cricklewood conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Following months of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Cricklewood. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a missing landlord or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to assess the amount due.
An example of a Freehold Enfranchisement case for a Cricklewood flat is 73 and 73a St. Pauls Avenue in October 2013. the Tribunal held in accordance with section32 and Schedule 6 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the enfranchisement was fifty three thousand three hundred and sixty one pounds (£53,361.00) This case related to 2 flats. The unexpired lease term was 64.61 and 67.18.
Me and my wife are about to complete buying a property in Cricklewood but as a result of wreckage from the recent storms I have negotiated recompense from the current proprietors of £3k in the form of a reduction in the price. This was going to be dealt with as part of the conveyancing process however my lender will not agree to this. Why were they approached?
Your conveyancing practitioner being on the bank approved list is required to disclose to the bank of any changes to the sale price. If you were to refuse your property lawyer to disclose the reduction to your mortgage company then they would need to discontinue representing you and the mortgage company.