Our conveyancer has uncovered a defect with the lease for the flat we are purchasing in Hornchurch. The seller’s lawyers have offered title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancing practitioner has advised that he must ensure that the bank is happy with this solution. Are we the client or is the bank?

Notwithstanding that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. These conveyancing instructions have to be complied with.

I need some quick conveyancing in Hornchurch as I have pressure to exchange contracts inside 4 weeks. A home loan is not required. Can I decline from having conveyancing searches to save money and time?

As you are not obtaining a mortgage you have the choice not to do searches although no lawyer would advise that you don't. With lots of history conveyancing in Hornchurch the following are examples of issues that can crop up and adversely impact future mortgageability: Refused Planning Applications, Outstanding Charges, Overdue Grants, Road Schemes,...

I am looking for a flat up to £195,000 and identified one near me in Hornchurch I like with open areas and transport links nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Hornchurch in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?

If you require a mortgage that many years will likely be a potential deal breaker. Reduce the offer 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 twenty four months you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.

I've recently bought a leasehold property in Hornchurch. Do I have any liability for service charges relating to a period prior to my ownership?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I am the leaseholder of a ground flat in Hornchurch. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium payable for a lease extension?

Most certainly. We can put you in touch with a Hornchurch conveyancing firm who can help.

An example of a Lease Extension decision for a Hornchurch flat is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case related to 1 flat. The number of years remaining on the existing lease(s) was 57.5 years.

We are hoping to buy a repossessed property in Hornchurch and the bank selling would like to complete within a week. Can a property lawyer complete in this timeframe? Am I best advised to use a high street Hornchurch firm or an online organisation that professes to offer speedy conveyancing?

Attend your Hornchurch shopping parade. Go in to 3 companies and ask to talk to a conveyancing solicitor for an estimate. Explain your needs and try and obtain a commitment on deadlines. Choose the firm that comes across as most genuine. Be sure to choose a conveyancer on the list of conveyancers approved by your lender.