The Woodford Green conveyancing firm that just started acting on my house acquisition in Woodford Green have suddenly shut down. I only went with them because I needed a solicitor on the Virgin Money conveyancing panel and my previous Woodford Green lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What should be my next steps?
If you have an estate agent involved then let them know straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Virgin Money conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
Are there restrictive covenants that are commonly identified as part of conveyancing in Woodford Green?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Woodford Green. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a flat up to £245,000 and found one round the corner in Woodford Green I like with amenity areas and station nearby, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Woodford Green in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
My husband and I are new on the property ladder - agreed a price, yet the agent informed us that the owners will only move forward if we use their recommended conveyancers as they want a ‘quick sale’. We would rather use a local conveyancer accustomed to conveyancing in Woodford Green
We suspect that the seller is unaware of this ultimatum. If they want ‘a quick sale', taking such a hostile approach to a serious purchaser is not the way to achieve this. Speak to the vendors direct and make sure they understand (a)you are serious buyers (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you wish to move quickly (e)however you will continue to instruct your preferred Woodford Green conveyancing firm - not the ones that will earn their negotiator at the agency a commission or hit his conveyancing thresholds set by HQ.
Having had my offer accepted I require leasehold conveyancing in Woodford Green. Before I get started I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Woodford Green - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
We have reached the end of our tether in seeking a lease extension in Woodford Green. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We are happy to put you in touch with a Woodford Green conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Woodford Green premises 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 affected 2 flats. The unexpired term was 69.26 years.
Our bank agreed in principle to grant us a mortgage. We appointed a high street conveyancer in Woodford Green yesterday. Today, our mortgage adviser phoned to advise us that the bank said that we cannot use our solicitor as they aren't on their panel. As FTB's, we did not have a clue that the bank had a say Is this usual?
You are permitted to appoint any property lawyer you prefer to choose for your conveyancing in Woodford Green but if your mortgage company aren't happy with them you would have to incur additional cost so the bank can instruct their own solicitors as well to protect their interest. It may be conceivable that your preferred conveyancing firm to get added to the mortgage company panel. You can use online tools including lenderpanel.com to find a conveyancing solcitor in Woodford Green on the bank panel. You can go into your high street bank branch in Woodford Green. They can recommend conveyancing solicitors in Woodford Green on the bank panel.