three months have elapsed following my purchase conveyancing in Upminster Bridge completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build flat in Upminster Bridge. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Upminster Bridge
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please confirm the Lease plans are surveyor prepared. 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. There must be mutual enforceability of lessee’s covenants.
I decided to have a survey completed on a house in Upminster Bridge prior to appointing lawyers. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some lenders tend refuse to issue a mortgage on a flying freehold house.
It depends who your proposed lender is. HSBC has different requirements for example to Nationwide. If you e-mail us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Upminster Bridge. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Upminster Bridge to see if the conveyancing will be more expensive.
How do I search for a Upminster Bridge solicitor on the Bank of Scotland conveyancing panel? I have wheels and am happy to travel upto 20kilometers to meet the conveyancer.
You can use the tool on this website. Please select a bank and your location and you will see a number of Upminster Bridge conveyancing lawyers located nearest you. We have listed some Upminster Bridge conveyancing firms at the bottom of this page and you can call them to see if they are on the Bank of Scotland panel
What advice can you give us when it comes to choosing a Upminster Bridge conveyancing practice to deal with our lease extension?
When appointing a solicitor for lease extension works (regardless if they are a Upminster Bridge conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with several firms including non Upminster Bridge conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be helpful:
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If they are not ALEP accredited then why not?
I inherited a ground floor flat in Upminster Bridge. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?
in cases where there is a missing freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to arrive at the price payable.
An example of a Lease Extension matter before the tribunal for a Upminster Bridge premises is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The unexpired term as at the valuation date was 57.5 years.
One month into purchasing a house in Upminster Bridge. Conveyancing lawyer has told us the property is "Leasehold". Should this impact our lender’s valuation?
Upminster Bridge conveyancing does not in most situations involve leasehold houses. The crucial factor here is the length of lease and the ground rent. If there are hundred of years years remaining with a peppercorn rent, it's virtually freehold, so it shouldn't impact the marketability significantly.
On the flip side, if it's, say, fifty five years it is bound to have a significant impact on the value, and probably wouldn't be mortgageable. The length of lease and ground rent will be stated in the lease provided to your solicitor.