It has been four months since my purchase conveyancing in Elephant and Castle took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing my first flat in Elephant and Castle with a mortgage from Bank of Scotland. The builders refused to budge the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep suggested that I not to tell my solicitor about the deal as it could affect my loan with Bank of Scotland. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey done on a house in Elephant and Castle before retaining conveyancers. I have been advised that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies will refuse to grant a loan on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. If you e-mail us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Elephant and Castle. Conveyancing may be slightly more expensive based on your lender's requirements.
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I only have Sixty One years unexpired on my lease in Elephant and Castle. I need to extend my lease but my landlord is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to find the freeholder. For most situations a specialist should be helpful to try and locate and to produce an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the application to the County Court overseeing Elephant and Castle.
After years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Elephant and Castle. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to arrive at the amount due.
An example of a Lease Extension case for a Elephant and Castle premises is Ground Floor Flat 39 Bronsart Road in May 2010. Following a vesting order by West London County Court the Leasehold Valuation Tribunal concluded that the price to be paid for the extended lease of the premises was Thirteen Thousand Two hundred pounds (£13,200) in accordance with the valuation. The extended lease was granted for a term of 90 years from the expiry date of the Lease and at a peppercorn ground rent from the date of the vesting order. This case affected 1 flat. The unexpired term as at the valuation date was 74.77 years.
Online reading suggests that Elephant and Castle solicitors are more expensive than Elephant and Castle conveyancers in Elephant and Castle to use when purchasing a house. Am I better off using a conveyancer or a solicitor if I am purchasing a house in Elephant and Castle.
When it comes to conveyancing in Elephant and Castle the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.