I require quick conveyancing in Hackney as I have pressure to complete within one month. A mortgage is not required. Is it possible to avoid the conveyancing searches to save money and time?
As you are are a cash buyer you are at free not to do searches although no lawyer would advise that you don't. With plenty of history conveyancing in Hackney the following are examples of what can crop up and therefore affect market value: Refused Planning Applications, Outstanding Charges, Overdue Grants, Road Schemes,...
Are there restrictive covenants that are commonly identified as part of conveyancing in Hackney?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Hackney. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a flat up to £195,000 and found one round the corner in Hackney I like with open areas and station nearby, however it only has 61 years on the lease. There is not much else in Hackney suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a mortgage the shortness of the lease will be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
Am I best advised to choose a Hackney conveyancing lawyer based in the area that I am hoping to buy? We have a good friend who can deal with the conveyancing however they are based over three hundred kilometers away.
The benefit of a high street Hackney conveyancing practice is that you can visit the firm to execute documents, deliver your ID and pester them if necessary. They will also have local intelligence which is a plus. That being said it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and in the main were impressed that should trump using an unknown Hackney conveyancing solicitor just because they are Hackney based.
I have just appointed agents to market my basement flat in Hackney. Conveyancing has not commenced, however I have recently received a quarterly service charge demand – should I leave it to the buyer to sort out?
It best that you discharge the maintenance contribution as normal as all ground rent and maintenance invoices should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Despite our best endeavours, we have been unsuccessful in trying to purchase the freehold in Hackney. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most definitely. We can put you in touch with a Hackney conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Hackney residence is 150 Amhurst Road in December 2013. The tribunal concluded that the premium to be paid by the applicant for the enfranchisement of the subject property was £43,500. This case was in relation to 4 flats. The unexpired lease term was 90 (or thereabouts).
My lawyers in Hackney have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with the mortgage company. Is it case that being on the bank conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the bank directly.