Why do I have to pay up front for conveyancing in Monken Hadley?
If you are buying a property in Monken Hadley your lawyer will ask you to provide them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. When the down payment is payable against the total price then this should be needed shortly before exchange of contracts. Any further balance that is needed should be sent to your lawyer shortly before completion.
Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in Monken Hadley. Do I collect the keys to the house on the completion date from my conveyancer? If this is the case, I will find a local conveyancing solicitor in Monken Hadley?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the seller's conveyancers, and shortly after the monies have arrived, you should be invited to receive the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
I am purchasing a 4 bedroom semi-detached house in Monken Hadley. The intention is to carry out a loft conversion at the property.Will the conveyancing process include checks to determine if these works are allowed?
Your solicitor should check the deeds as conveyancing in Monken Hadley can sometimes identify restrictions in the title documents which restrict certain changes or require the permission of a 3rd party. Certain additions require local authority planning consent and approval in accordance building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be prudent to check these issues with a surveyor ahead of any purchase.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Monken Hadley solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Monken Hadley postcode. As you are getting a mortgage with Nationwide, you could contact them to see if they have a list of approved surveyors in Monken Hadley.
Various online forums that I have come across warn that are the number one reason for obstruction in Monken Hadley conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances during the legal transfer of property. Searches are not likely to be the root cause of holding up conveyancing in Monken Hadley.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a simple, no chain conveyancing. Monken Hadley is the location of the property. Can you offer any advice?
Flying freeholds in Monken Hadley are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Monken Hadley you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Monken Hadley may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I only have 72 years remaining on my flat in Monken Hadley. I am keen to get lease extension but my freeholder is can not be found. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to prove that you have made all reasonable attempts to find the lessor. In some cases a specialist should be useful to conduct investigations and to produce a report to be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to devolving into the landlord’s absence and the application to the County Court covering Monken Hadley.
I am the proprietor of a ground-floor 1960’s flat in Monken Hadley. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for the purchase of the freehold?
Where there is a absentee landlord or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to calculate the amount due.
An example of a Lease Extension decision for a Monken Hadley premises is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The unexpired residue of the current lease was 76 years.
Is there a reason that Monken Hadley conveyancing costs differ for leasehold and freehold properties?
Inevitably there is increased work necessary for leasehold conveyancing. Monken Hadley has many leasehold properties. There is more hours involved in the purchase: for example, the lease and leasehold information (including current service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.