I am not in a position to travel far from Elephant and Castle. Is there a reason why all Elephant and Castle conveyancing practitioners are not on all bank panels?
As unjust as it may appear for mortgage companies to restrict who can represent them, from the public’s or conveyancer’s perspective, the flip side is that lenders are increasingly anxious and consider it crucial to protect them against mortgage fraud. As a consequence of this concern banks are limiting their panel of approved conveyancing lawyers to a manageable size.
I have given 2 months notice to my existing landlord and have to leave my let out property in Elephant and Castle by 30/5/2025. Conveyancing on my purchase has just started. How realistic is it to complete in 4 weeks as don't want to have to move into temporary accommodation?
The normal practice is not to provide notice for your tenancy unless exchange of contracts has taken place. Assuming that you have not already done so, notify to your conveyancer and ask them to they apply pressure on the sellers solicitors, try to an agreed time frame that all parties will aim to achieve
Various web forums that I have visited warn that are the main cause of delay in Elephant and Castle house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of slowing down conveyancing in Elephant and Castle.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Elephant and Castle. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Elephant and Castle
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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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply a car parking plan. 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 guidance of my in-laws I had a survey completed on a house in Elephant and Castle in advance of retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. The surveyor has said that some mortgage companies will not give a mortgage on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Elephant and Castle. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Elephant and Castle to see if the conveyancing costs will increase in light of this.
Expecting to exchange soon on a ground floor flat in Elephant and Castle. Conveyancing solicitors assured me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Elephant and Castle should include some of the following:
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You should know whether the lease allows you to alter or upgrade anything in the flat- you must know whether it relates to all alterations or limited to structural alteration, and whether licences for alterations is required Details of the parties to the lease, e.g. these could be the tennant, superior lessor, freeholder Responsibility for maintaining the window frames Will you be prohibited or prevented from having pets in the property?
Following years of correspondence 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?
Where there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to decide the sum to be paid.
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 was in relation to 1 flat. The unexpired lease term was 74.77 years.