In the event thatI was to buy a simple residential homein Woodford for cash and have no survey and no local authority searches how much could I expect to to save on my conveyancing in Woodford?
Any savings you would achieve would be limited to the Woodford conveyancing searches. Your property lawyer is required to do the vast majority of work - money laundering, communicating with your sellers solicitor, SDLT submission, register the title etc. You might save a bit for them not needing to register a charge however it won't be a lot.
I am buying a terraced house in Woodford. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Woodford you will have to appoint a solicitor on your bank'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 Woodford.
I am purchasing a new build house in Woodford with a loan from National Westminster Bank. The developers refused to reduce the amount so I negotiated £7000 of additionals instead. The house builders rep advised me not reveal to my lawyer about this extras as it would impact my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I opted to have a survey carried out on a house in Woodford before instructing conveyancers. I have been told that there is a flying freehold element to the house. The surveyor advised that some banks will not issue a loan on a flying freehold premises.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. Should you wish to call us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Woodford. Conveyancing will be smoother if you use a solicitor in Woodford especially if they regularly deal with such properties in Woodford.
I've found a house that seems to meet my requirements, at a reasonable price which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Woodford. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
The majority of houses in Woodford are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Woodford in which case you should be looking for a Woodford conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is located on an estate. Your lawyer will report to you on the legal implications.
I am the proprietor of a ground floor flat in Woodford. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount payable for a lease extension?
Absolutely. We are happy to put you in touch with a Woodford conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Woodford residence is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case was in relation to 2 flats. The unexpired term as at the valuation date was 69.26 years.
Should one remove a deceased person's details from the title deeds for a house in Woodford?
If a Woodford property is jointly owned and one of the owners passes away, their name will not automatically be removed from the Land Registry title. It is not necessary to amend the title as in the event of a sale you would simply need to supply proof why the other owner is not included in the conveyance, such as the probate documents.
With a view to making the sale conveyancing smoother for the sale of the property you may apply to have the deceased name removed from the title register by submitting an application to HM Land Registry with evidence of the death. There is no fee from the Registry for this service.