I am obtaining a offer of a home loan from Santander. I hope to enlist the help of a Licensed Conveyancer in North Sheen. Does the Santander Conveyancing panel exclude Licensed Conveyancers?
The Santander approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
Is there a reason why leasehold purchase conveyancing in North Sheen is more expensive?
North Sheen leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My wife and I have recently appointed a conveyancing solicitor in North Sheen. I I am struggling to find out if they are on the Yorkshire Building Society approved list of lawyers. Can you help?
You should contact your conveyancer and enquire if they can act for the bank. Alternatively please call Yorkshire Building Society who may be able to help.
My relative recommended that where I am purchasing in North Sheen I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your North Sheen conveyancing searches. It is a large report of about 40 pages, listing and setting out important information about North Sheen around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the North Sheen Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information regarding North Sheen.
I have been on the look out for a ground for flat up to £245,000 and identified one round the corner in North Sheen I like with amenity areas and station nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in North Sheen for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a mortgage that many years will be a potential deal breaker. Discount the price by the expected 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 can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
I work for a long established estate agency in North Sheen where we have experienced a number of flat sales jeopardised due to short leases. I have been given contradictory information from local North Sheen conveyancing firms. Can you shed some light as to whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I have attempted and failed to negotiate with my landlord for a lease extension without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a North Sheen conveyancing firm to represent me?
Most definitely. We can put you in touch with a North Sheen conveyancing firm who can help.
An example of a Lease Extension decision for a North Sheen residence is Flat 1 30 Ennismore Avenue in September 2010. the Tribunal adopted and arrived at a premium for the lease extension of £29, 900 This case affected 1 flat. The unexpired lease term was 68.34 years.