At long last a mortgage agreement from Nationwide for the remortgage of my 2 bedroom maisonette is coming within the next few days. Are you able to suggest a low cost conveyancing practitioner in Leytonstone?
You are on the wrong site if you are seeking the lowest fares for conveyancing solicitors in Leytonstone. We can offer you value for money conveyancing but our intention is not to advertise as being the cheapest. Resist the temptation to appoint brokers offering the bait of ninety nine pound conveyancing in Leytonstone. The optimum result, in choosing a lawyer for cheap conveyancing, you will get your money’s worth and at worst it will result in you with a surprising uplift in additional fees and still not receive the service you were looking for.
I am the registered owner of a freehold residence in Leytonstone yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Leytonstone and has limited impact for conveyancing in Leytonstone 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 date back many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
I am the sole beneficiary of my late father’s estate and I have everything in my name alone, including the house in Leytonstone. Conveyancing formalities meant that the Land Registry date was in November. I want to move. I do know about the CML six month 'rule', which means that my property ownership could be regarded the same way as though I had purchased the house in November. Do I have to wait half a year to sell?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. many lenders would take a pragmatic view as this provision is principally there to pick up on the purchase and immediately sell or the flipping of property.
I currently have a mortgage with Leeds Building Society for my property in Leytonstone. Conveyancing has been completed 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Leeds Building Society?
Your original mortgage agreement with Leeds Building Society will provide that you need their approval in advance of renting your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. It may be that Leeds Building Society will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Leeds Building Society directly. It should not be necessary to do this via a Leeds Building Society conveyancing panel firm.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Leytonstone building society branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Leytonstone conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the conveyancer is on the bank panel, she or he must adhere to the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 remaining.
A friend advised me that where I am purchasing in Leytonstone I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard Leytonstone conveyancing searches. It is not a small document of about 40 pages, listing and setting out significant information about Leytonstone around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Leytonstone Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data regarding Leytonstone.
Is it best to appoint a Leytonstone conveyancing lawyer who is local to the property I am hoping to buy? We have a good friend who can execute the legal work but they are based approximately 350miles away.
The benefit of a local Leytonstone conveyancing firm is that you can drop in to execute documents, hand in your ID and apply pressure on them if necessary. They will also have local knowledge which is a bonus. That being said it's more important to get someone that will do a good and efficient job. If other friends have used your friend and on the whole were content that must surpass using an unfamiliar Leytonstone conveyancing solicitor just because they are Leytonstone based.
There are only Sixty One years left on my flat in Leytonstone. I now want to extend my lease but my landlord is missing. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to demonstrate that you have done all that could be expected to track down the freeholder. On the whole an enquiry agent may be useful to try and locate and prepare an expert document to be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a solicitor in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Leytonstone.
Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in Leytonstone. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a Leytonstone conveyancing firm who can help.
An example of a Freehold Enfranchisement decision 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 affected 2 flats. The unexpired residue of the current lease was 73.92 years.