The lawyer who dealt with my former purchase has quoted £1200 for no sale no fee conveyancing in East London. I’m selling a Edwardian house for £175,000. This appears expensive. Is it in excess of the average fee for conveyancing in East London?
The estimate does seem marginally overpriced. If you shop around you might decrease the fees slightly by say £100 plus VAT. On the other hand, you mightlive to regret opting for an an unknown conveyancer. If is important to ensure the solicitor can act for your lender. Do employ our comparison tool to find a East London conveyancing practice on the lender’s member panel which can often include conveyancing solicitors in East London.
I am purchasing a new build flat in East London. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in East London you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in East London.
Just had an offer accepted on a new build flat in East London. 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 legal work.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in East London
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Due to the encouragement of my in-laws I had a survey completed on a house in East London before appointing solicitors. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies will refuse to issue a loan on this type of house.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. If you call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in East London. Conveyancing will be smoother if you use a solicitor in East London especially if they are accustomed to such properties in East London.
What does commercial conveyancing in East London cover?
Non domestic conveyancing in East London covers a broad array of advice, offered by regulated solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
I work for a long established estate agent office in East London where we see a few flat sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local East London conveyancing firms. Can you confirm whether the vendor of a flat can commence the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is 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 buyer.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a East London conveyancing firm to act on my behalf?
if there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to judgment on the premium.
An example of a Freehold Enfranchisement decision for a East London residence is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case related to 1 flat. The unexpired term was 73.26 years.