I am hoping to receive a offer of a home loan from Santander. I would like to enlist the help of a Licensed Conveyancer in Gidea Park. Does the Santander Solicitor panel allow for Licensed Conveyancers?
The Santander conveyancing panel is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
I am the registered owner of a freehold property in Gidea Park but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Gidea Park and has limited impact for conveyancing in Gidea Park but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I require fast conveyancing in Gidea Park as I have pressure to complete in less than 4 weeks. Fortunately I do not require a mortgage. Can I avoid the conveyancing searches to save money and time?
As you are not getting a mortgage you have the choice not to have searches conducted although no solicitor would suggest that you don't. With plenty of history conveyancing in Gidea Park the following are instances of issues that can appear and adversely impact the marketability of the property: Enforcement Actions, Outstanding Fees, Outstanding Grants, Railway Schemes,...
How does conveyancing in Gidea Park differ for newly converted properties?
Most buyers of new build premises in Gidea Park come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is ready to move into. This is because developers in Gidea Park typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Gidea Park or who has acted in the same development.
Am I better off to use a Gidea Park conveyancing lawyer based in the location that I am purchasing? We have a good friend who can execute the legal formalities but they are based a couple of hundredkilometers drive away.
The primary upside of using a high street Gidea Park conveyancing practice is that you can attend the office to execute documents, hand in your ID and pester them where appropriate. Having local Gidea Park know how is a plus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and in the main were happy that must surpass using an unknown Gidea Park conveyancing lawyer solely due to them being local.
I am a negotiator for a busy estate agency in Gidea Park where we have witnessed a few leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Gidea Park conveyancing solicitors. Please can you confirm whether the vendor of a flat can commence the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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 inherited a two-bedroom flat in Gidea Park. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Gidea Park conveyancing firm who can help.
An example of a Lease Extension decision for a Gidea Park property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The unexpired lease term was 57.5 years.