Me and my partner are acquiring our first property. The lawyer has texted usto enquire if we wish to purchase extra conveyancing searches. Unfortunately we in the dark as to what's recommended for conveyancing in Harold Hill
The quantity and type of Harold Hill conveyancing searches depends entirely on the property, the location, the likelihood of any of these risks, your familiarity of the region and risks, your overall approach to risk. What is important is that you properly comprehend what information each search could provide. You may then decide if you personally think you need that information. Should you be unsure, ask your solicitor to advise.
I purchased a freehold premises in Harold Hill but still pay rent, why is this and what is this?
It is rare for properties in Harold Hill and has limited impact for conveyancing in Harold Hill 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 have existed for many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
I used Arc property Solicitors a few years past for my conveyancing in Harold Hill. Now, I need my files however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Harold Hill of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Harold Hill differ for new build properties?
Most buyers of new build property in Harold Hill come to us having been asked by the builder to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Harold Hill usually buy the real estate, 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 property lawyers 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 Harold Hill or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one round the corner in Harold Hill I like with amenity areas and railway links in the vicinity, the downside is that it's only got 51 years unexpired on the lease. I can't really find anything else in Harold Hill suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
Can you offer any advice when it comes to choosing a Harold Hill conveyancing firm to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Harold Hill conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with several firms including non Harold Hill conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be helpful:
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What are the charges for lease extension work? How experienced is the practice with lease extension legislation?
I have attempted and failed to negotiate with my landlord to extend my lease without any joy. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Harold Hill conveyancing firm to represent me?
in cases where there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the LVT to calculate the sum to be paid.
An example of a Lease Extension case for a Harold Hill 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 unexpired term as at the valuation date was 57.5 years.