Please help. My Foots Cray solicitor is advising me that he is legally obliged toconduct Foots Cray conveyancing searches becausethe firm are on the Nat Westapproved lawyer panel. Is this really necessary?
You have limited options available to you. Given that you are taking out a loan with a bank your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Foots Cray conveyancing searches.
Is there a reason why leasehold purchase conveyancing in Foots Cray costs more?
Foots Cray leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one near me in Foots Cray I like with open areas and railway links in the vicinity, the downside is that it only has 49 remaining years left on the lease. I can't really find anything else in Foots Cray suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a mortgage the shortness of the lease may be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
Taking into account that I am about to part with over three hundred thousand on 3 bedroom house in Foots Cray I wish to have a conversation with the solicitor about mytransaction ahead of instructing the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you speaking to the conveyancer who will be doing your property ownership legalities in Foots Cray.There is no ‘factory style conveyancing’ - every client is unique person, not a matter reference. The law firms that we put you in touch with believe that the figure you are provided with for residential conveyancing in Foots Cray should be the figure that you are charged.
Harry (my fiance) and I may need to rent out our Foots Cray garden flat temporarily due to a new job. We instructed a Foots Cray conveyancing practice in 2004 but they have closed and we did not think at the time get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
A lease dictates the relationship between the landlord and you the leaseholder; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Foots Cray do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
I inherited a first flat in Foots Cray. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?
Most certainly. We can put you in touch with a Foots Cray conveyancing firm who can help.
An example of a Lease Extension case for a Foots Cray premises is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case was in relation to 1 flat.
I acquired a property in Foots Cray last 12/2/2024 and to date it is still not recorded with the Land Registry. It was part of a development site and my conveyancing practitioner told me that it may take one year to complete the registration formalities. I have called HM Land Registry directly and they say that the original application was cancelled due to failure to reply to requisitions. Do I need to be concerned?
It is your solicitor that you really need to get in touch with in order to satisfy any concerns which have been raised as part of the registration process for your Foots Cray property. Normal Foots Cray conveyancing practice includes an undertaking on the part of the seller's property lawyer that they will help resolve any registration raised by HMLR so it may be a case of taking action to enforce that undertaking in some way.