My wife and I are about to complete buying a property in Leytonstone but as a result of damage from the recent storms I have managed to agree reparation from the owner of three thousand pounds in the form of a adjustment in the price. I had intended this to be dealt with as part of amending the contract however Aldermore will not permit this. Why were they involved?
Your conveyancer that is on a Aldermore conveyancing panel is obliged to disclose to Aldermore of any changes to the sale price. If you prohibit your solicitor to disclose the reduction to Aldermore then they would have to discontinue acting for you. In addition, Aldermore and you would have to appoint a new conveyancer for your conveyancing in Leytonstone.
Our mortgage company has suggested solicitors on their panel based in Leytonstone but I would rather instruct a conveyancing lawyer in Leytonstone round the corner to me. Are you able to assist?
Far from all Leytonstone conveyancing practitioners are approved and listed on all lender’s conveyancing panel. Please make the most of the above search tool to find a Leytonstone conveyancing conveyancer on the on the lender panel.
How does conveyancing in Leytonstone differ for newly converted properties?
Most buyers of new build premises in Leytonstone approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is completed. This is because developers in Leytonstone tend to 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 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 accustomed to new build conveyancing in Leytonstone or who has acted in the same development.
I have been on the look out for a flat up to £245,000 and found one near me in Leytonstone I like with a park and railway links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Leytonstone suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan that many years may 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 property for at least twenty four months you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
In what way does the Landlord & Tenant Act 1954 impact my business property in Leytonstone and how can you help?
The particular law that you refer to affords security of tenure to business leaseholders, granting the right to make a request to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and assist with commercial conveyancing in Leytonstone
Can you offer any advice when it comes to appointing a Leytonstone conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Leytonstone conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you speak with several firms including non Leytonstone conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be of use:
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Can they put you in touch with clients in Leytonstone who can give a testimonial?
I have tried to negotiate informally with with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Leytonstone conveyancing firm to help?
You certainly can. We can put you in touch with a Leytonstone conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a Leytonstone flat is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case was in relation to 2 flats. The number of years remaining on the existing lease(s) was 73.92 years.