Why would one use a Woodford Green conveyancing company given that online alternatives are easier on the wallet?
By all means make sure that you contrast conveyancing costs in Woodford Green and you should seek a competitive quote but don’t expend your energy hunting for the cheapest Woodford Green conveyancer. Finding the right conveyancer can mark the distinction between a smooth and a frustrating move. It is important that you ensure that you have expert advice from a trusted lawyer. Emails can't take the place of a phone discussion and can never replicate a one to one meeting. The firms that we work with will find you a qualified and experienced conveyancing solicitor that will deal with your conveyancing from from the outset to completion, giving the sort of personalised service that you will never get with an web based conveyancer. He or She will keep you updated as to any developments making sure that you are never in the dark. If you ever need to phone the office you will be sure who you need to speak to and they will be sure you are in the know.
We are a couple about to sign contracts for a leasehold flat in Woodford Green. We have hit a problem. The mortgage offer with The Royal Bank of Scotland runs out on 8/7/2025 but the vendors are putting forward a completion date of 10/7/2025. Is it possible to extend the loan offer?
The best person to deal with your concern is your solicitors who is in a position to assess if they corresponding with the mortgage company, owner’s conveyancers, property agents or indeed all three based on the history of your house move as of today.
Various online forums that I have frequented warn that are the primary cause of delay in Woodford Green conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Woodford Green.
How does conveyancing in Woodford Green differ for new build properties?
Most buyers of new build residence in Woodford Green come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because developers in Woodford Green tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Woodford Green or who has acted in the same development.
I opted to have a survey carried out on a house in Woodford Green in advance of appointing conveyancers. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some lenders may not grant a mortgage on this type of house.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Woodford Green. Conveyancing will be smoother if you use a solicitor in Woodford Green especially if they regularly deal with such properties in Woodford Green.
I am tempted by the attractive purchase price for a two flats in Woodford Green both have about 50 years remaining on the leases. Will this present a problem?
There are no two ways about it. A leasehold flat in Woodford Green is a wasting asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. The majority of purchasers and mortgage companies, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Woodford Green conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Woodford Green conveyancing firm to act on my behalf?
in cases where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to determine the amount due.
An example of a Freehold Enfranchisement case for a Woodford Green flat 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 was 69.26 years.