Forgive me if this question is silly but I am new to the home moving as a first time purchaser of a ground floor flat in Lea Bridge. Do I pick up the keys to the premises on completion from my solicitor? If this is the case, I will find a local conveyancing solicitor in Lea Bridge?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the completion advance to the owner’s conveyancers, and once they have received this, you should be invited to collect the keys from the selling Agents and start moving into the property. Usually this happens between 1 and 3pm.
I can not fathom if my mortgage offer requires a lease extension. I have called my Lea Bridge building society branch on numerous occasions and was told it does not impact the mortgage offer and they will lend. My Lea Bridge conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they would not lend in accordance with their specific requirements. I simply don't know who is right.
The conveyancing practitioner must follow the Council of Mortgage Lenders’ Handbook Part 2 conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After months of negotiation I have agreed a price on a house in Lea Bridge. My financial adviser suggested a conveyancer. I paid an upfront payment of £175. Not long after, the solicitor contacted me sheepishly admitting that they were not on the Nationwide conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nationwide panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Should commercial conveyancing searches reveal planned roadworks that may affect a commercial estate in Lea Bridge?
Many commercial conveyancing solicitors in Lea Bridge will carry out a SiteSolutions Highways report as it reduces the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Lea Bridge. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Lea Bridge.
For each commercial conveyancing transaction in Lea Bridge it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately could cause delays to Lea Bridge commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Lea Bridge.
How does conveyancing in Lea Bridge differ for new build properties?
Most buyers of new build premises in Lea Bridge come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is constructed. This is because builders in Lea Bridge usually acquire the land, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Lea Bridge or who has acted in the same development.
I have been pointed in your direction by two or three local estate agents in Lea Bridge to locate a solicitor using your seach tool. What’s the financial inducement for Estate Agents to recommend your lawyers over and above a competitor’s?
We don’t offer any referral fee for sending work our way. We found it would be just too difficult a fee as home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £150,000 garden flat in Lea Bridge in just under a week. The management company has quoted £420 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Lea Bridge?
Lea Bridge conveyancing on leasehold apartments more often than not necessitates the buyer’s solicitor sending questions for the landlord to address. Although the landlord is under no legal obligation to address these enquiries the majority will be content to do so. They are at liberty to levy a reasonable charge for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is in excess of £800. The management information fee demanded by the landlord must be accompanied by a summary of entitlements and obligations in respect of administration charges, otherwise the invoice is not strictly payable. In reality one has no option but to pay whatever is requested of you should you wish to sell the property.
I inherited a second floor flat in Lea Bridge. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium due for a lease extension?
if there is a missing freeholder or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to determine the price payable.
An example of a Freehold Enfranchisement case for a Lea Bridge residence is 104 Nightingale Road in May 2009. The Tribunal's Decision is that the premium torbe paid for the enfranchisement in this case is £112,174 This case related to 10 flats. The number of years remaining on the existing lease(s) was 71.25 years.
We are in the throes of a leasehold sale of a flat in Lea Bridge. Conveyancing is fine but we are being charged an extortionate amount by the freeholder. To date we have issued a cheque for £295.50 for a leasehold management information and then another £134.40 for additional queries supplied by the buyers solicitor.
Your conveyancing practitioner will unlikely have any impact over the extent of the bill for this information however the typical costs for the information for Lea Bridge leasehold property is £395. For Lea Bridge conveyancing deals it is conventional for the vendor to pay for these costs. The landlord or their agents are under no statutory obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices out of proportion to the work involved. Regretfully there is no law that mandates set fees for administrative tasks. There is no legal time limit by which they are required to supply answers.