AssumingI were to acquire a straightforward housein Whitechapel for cash and have no survey and no local authority searches how much would I expect to to save on my conveyancing in Whitechapel?
The only saving you would make on is the Whitechapel conveyancing searches. A conveyancer still got to do everything else - money laundering, liaising with the vendors lawyer, stamp duty submission, register the title etc. A marginal saving might be made by not needing to register a mortgage however it won't be a lot.
I am purchasing a new build flat in Whitechapel. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Whitechapel you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Whitechapel.
I have been on the look out for a ground for flat up to £305k and found one near me in Whitechapel I like with amenity areas and railway links in the vicinity, however it only has 61 remaining years left on the lease. There is not much else in Whitechapel for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage that many years may be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
I'm converting the mortgage on my current home to a buy to let mortgage with Aldermore and intend to use the remaining equity as a down payment on further property. The location we are interested in is Whitechapel. Will your lawyers be able to act for both sets of lenders and tie in the conveyances?
Make use of our comparison tool on this page to be sure that the solicitors are approved by both lenders. Having checked that they are the solicitor should be able to connect the two conveyancing matters but you should have a chat with you solicitor and communicate your desired outcome and needs.
I am attracted to a couple of flats in Whitechapel both have about forty five years unexpired on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Whitechapel. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease decreases and it becomes more costly to extend the lease. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease as mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field.
I inherited a ground floor flat in Whitechapel. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?
if there is a missing landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to decide the sum to be paid.
An example of a Freehold Enfranchisement case for a Whitechapel residence is 1-41 Royal Tower Lodge 40 Cartwright Street in April 2013. the tribunal adding the agreed value of capitalised ground rents and the reversion the price to be paid for the freehold was £1,187,000 This case was in relation to 41 flats. The number of years remaining on the existing lease(s) was 107 years.
What can I do where I am not happy with the conveyancer who handled our conveyancing in Whitechapel?
We live in an imperfect world, and unfortunately sometimes things do go wrong. However there is recourse where you were unhappy with your conveyancing in Whitechapel. This varies from trying to resolve matters directly with them, through to reporting a conveyancing practitioner to their governing body. If things still aren’t resolved you may consider getting in touch with the Legal Ombudsman.