Why is leasehold purchase conveyancing in South East London costs more?
The conveyancing charges for a leasehold property in South East London is inevitably greater as compared to a freehold acquisition or disposal. This is because there is an amount of additional work necessary in corresponding with the landlord and managing agents to collate the information concerning whether the rent and service charges have been discharged and whether there are any large sums expected to be spent in the foreseeable future on repairs or maintenance of the building.
Me and my partner are buying a apartment in South East London. It might be a silly question but how we can trust a lawyer? On the day of competition we have to deposit our life savings into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am expecting a AIP from Aldermore this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Aldermore recommend any South East London solicitors on the Aldermore conveyancing panel, or is it better to find our own lawyer?
You will need to appoint South East London solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
My husband and I are spending time looking at flats in South East London and I am about to put in an offer. Is it premature to have a solicitor in place? I am planning to take a mortgage with Lloyds.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. Given that you are getting a mortgage with Lloyds, ask your prospective lawyers if they are on the Lloyds conveyancing panel otherwise they can't do the mortgage legal work.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The lawyers who handled the conveyancing in South East London 5 years ago have long since closed. What are my options?
As long as the title is registered the details of your proprietorship will be documented by the Land Registry with a Title Number. It is possible to conduct a search at the Land Registry, find your house and secure up to date copies of the property title for less than a fiver. If the property is Leasehold then the Land Registry will also normally hold a certified copy of the Registered Lease and again, a copy can be obtained for a small fee.
About to purchase a new build apartment in South East London. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in South East London
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There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are surveyor prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I have been on the look out for a leasehold apartment up to £245,000 and found one near me in South East London I like with a park and station nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in South East London suitable, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
Frank (my husband) and I may need to sub-let our South East London ground floor flat temporarily due to taking a sabbatical. We used a South East London conveyancing firm in 2001 but they have closed and we did not have the foresight to seek any guidance as to whether the lease permits subletting. How do we find out?
Some leases for properties in South East London do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I have had difficulty in seeking a lease extension in South East London. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to make a decision on the price.
An example of a Freehold Enfranchisement decision for a South East London premises is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case affected 1 flat. The remaining number of years on the lease was 73.26 years.