After what seems like an age a mortgage agreement from NatWest for the remortgage of my 3 room maisonette is to be issued by the end of next week. Are you able to recommend a low cost conveyancing law firm in Gidea Park?
You are on the wrong site if you are in need of the cheapest conveyancing solicitors in Gidea Park. We can offer you affordable conveyancing but our intention is not to advertise as being the cheapest. Avoid the trap of appointing companies offering the bait of £100 conveyancing in Gidea Park. In your best case scenario, in choosing a lawyer for low cost conveyancing, you will get your money’s worth and at worst you will end up spending a lot in additional fees and still not end up with the service required.
four months have elapsed since my purchase conveyancing in Gidea Park took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. 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 premises 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 Gidea Park benefiting from help to buy. The sellers refused to move on the price so I negotiated 6k of fixtures and fittings instead. The sale representative advised me not inform my solicitor about the side-deal as it would adversely affect my mortgage with Aldermore. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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 am looking for a flat up to £245,000 and identified one close by in Gidea Park I like with open areas and railway links in the vicinity, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Gidea Park for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a home loan the shortness of the lease may be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
Can you provide any advice for leasehold conveyancing in Gidea Park with the aim of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Gidea Park can be bypassed if you instruct lawyers as soon as you market your property and request that they start to collate the leasehold documentation which will be required by the buyers’ conveyancers. If you have the benefit of shareholding in the Management Company, you should ensure that you are holding the original share certificate. Arranging a duplicate share certificate is often a lengthy formality and delays many a Gidea Park home move. If a new share certificate is necessary, do contact the company officers or managing agents (where relevant) for this at the earliest opportunity. If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Gidea Park state that internal structural changes or installing wooden flooring necessitate a licence from the Landlord approving such works. If you fail to have the approvals to hand you should not contact the landlord without checking with your lawyer in advance. If you have had any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than ongoing. A minority of Gidea Park leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Gidea Park conveyancing firm to represent me?
Most definitely. We can put you in touch with a Gidea Park conveyancing firm who can help.
An example of a Lease Extension case for a Gidea Park premises 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 affected 1 flat. The number of years remaining on the existing lease(s) was 57.5 years.
My plan is to purchase a ground floor apartment in Gidea Park. Conveyancing lawyer has been awaiting, from the owner, building insurance paperwork. This morning I was informed that the seller must send the insurance documents for the flat above also. Why would my solicitor want to check the insurance for the other flat? Is it strictly necessary? We have been stalled for the last fortnight…
It is not unheard of in leasehold conveyancing in Gidea Park to find Conveyancing in Gidea Park in a minority of cases reveals that the lease requires the tenant's to insure their individual flats as opposed to the landlord insuring the complete premises - which is clearly preferable. You should clarify with your lawyer but it would appear that your conveyancing practitioner is attempting to verify that the entire building is insured. Insuring your flat is no help when it comes to rebuilding after a fire if the other flat cannot be rebuilt for lack of insurance.