In the event thatI were to buy a straightforward propertyin Woodford for cash and have no survey and no conveyancing searches how much would I expect to to save on my conveyancing in Woodford?
Any savings you would make would be isolated to the disbursement for searches. The property lawyer is required to do the vast majority of work - money laundering, communicating with your sellers property lawyer, SDLT return, register the property etc. A slight saving might be made by not needing to register a charge but it won't be meaningful.
It has been five months following my purchase conveyancing in Woodford completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. 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 premises 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 have been on the look out for a ground for flat up to £305k and found one close by in Woodford I like with a park and station in the vicinity, the downside is that it only has 49 years on the lease. There is not much else in Woodford for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
How does the Landlord & Tenant Act 1954 affect my commercial premises in Woodford and how can your lawyers assist?
The 1954 Act gives security of tenure to business tenants, granting the a statutory right to make a request to court for a renewal tenancy and continue in occupation at the end of the lease term. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act for protection and assist with commercial conveyancing in Woodford
I have recently realised that I have Seventy years left on my flat in Woodford. I am keen to get lease extension but my landlord is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the magistrate. You will be obliged to demonstrate that you have used your best endeavours to locate the freeholder. For most situations an enquiry agent would be helpful to try and locate and to produce an expert document to be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court covering Woodford.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Woodford conveyancing firm to assist?
Absolutely. We can 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 property 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 related to 2 flats. The unexpired residue of the current lease was 69.26 years.
New build sellers have recommended to me a lawyer and I've sought a quote from them. It's almost £300 less expensive than my preferred Woodford conveyancing practitioner. What's the catch?
Builders often have lists of property lawyers who are quick and who know the seller’s contract and solicitor. As many developers offer an incentive to use their approved conveyancing practitioner for this reason, any increased cost can be avoided and a builder won't put forward a conveyancing factory and run the risk of having the transaction stall when they need an exchange within a tight deadline. A counter-argument for not opting for the suggested conveyancing practitioner is that they may prove hesitant to 'push' your interests for fear of upsetting the developer. If you worry that this may be the case you should keep with your local Woodford solicitor.