It is 10 years ago since I purchased my house in Stepney. Conveyancing lawyers have just been instructed on the sale but I can't track down my title deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly the deeds may be retained by the mortgage company or they could be in the possession of the conveyancers who acted in your purchase. Secondly the chances are that the title will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers procuring up to date copy of the land registers. Most conveyancing in Stepney involves registered property but in the rare situation where your home is unregistered it adds to the complexity but is resolvable.
Our bank has recommended solicitors on their panel based in Stepney but I would rather choose a conveyancing lawyer in Stepney local to me. Can you help?
It is by no means the case that all Stepney conveyancing practitioners are listed all lender’s conveyancing panel. Do make the most of our find an approved solicitor tool to choose a Stepney conveyancing solicitor on the on the bank panel.
Do I need to take out insurance to cover chancel repairs when buying a property in Stepney?
Unless a previous acquisition of the premises took place post 12 October 2013 you could take it that lawyers handling conveyancing in Stepney to remain recommending a chancel search and or insurance against a claim.
How does conveyancing in Stepney differ for new build properties?
Most buyers of new build residence in Stepney come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because house builders in Stepney usually purchase the site, 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 conveyancing solicitors 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 Stepney or who has acted in the same development.
Is it simple use the search app to find a conveyancing lawyer in Stepney on the panel for my lender?
Step one is to select a lender such as National Westminster Bank, Norwich and Peterborough Building Society or Bank of Ireland then type in your location a common one being Stepney. Conveyancing firms in Stepney and across England and Wales should be identified.
Do you have any top tips for leasehold conveyancing in Stepney with the purpose of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Stepney can be bypassed where you get in touch lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation which will be required by the buyers’ representatives. If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Stepney leases often stipulate that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord approving such changes. If you fail to have the consents in place you should not contact the landlord without checking with your lawyer in advance. You may think that you are aware of the number of years remaining on your lease but it would be advisable verify this by asking your lawyers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is less than 75 years. In the circumstances it is essential at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. Many landlords or Management Companies in Stepney levy fees for supplying management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Stepney.
I have had difficulty in trying to reach an agreement for a lease extension in Stepney. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We are happy to put you in touch with a Stepney conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Stepney residence is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case was in relation to 3 flats. The unexpired residue of the current lease was 101.61 years.