Can the conveyancing solicitors listed on your site conduct auction conveyancing in Aldermanbury?

We know of a number of niche solicitors we can connect you with those conducting auction conveyancing. Aldermanbury is one of our locations in which our lawyers have offices.

It is 10 years ago since I acquired my property in Aldermanbury. Conveyancing solicitors have recently been appointed on the sale but I am unable to find my title documents. Will this jeopardise the sale?

You need not be too concerned. Firstly the deeds may be kept by your mortgage company or they could stored with the conveyancers who handled your purchase. Secondly in most cases the property will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors procuring up to date copy of the land registers. The vast majority of conveyancing in Aldermanbury relates to registered property but in the rare situation where your home is unregistered it is more problematic but is resolvable.

How does conveyancing in Aldermanbury differ for new build properties?

Most buyers of new build premises in Aldermanbury approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Aldermanbury typically buy 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 conveyancers 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 accustomed to new build conveyancing in Aldermanbury or who has acted in the same development.

Can you provide any top tips for leasehold conveyancing in Aldermanbury with the aim of saving time on the sale process?

• A significant proportion of the delay in leasehold conveyancing in Aldermanbury can be avoided where you get in touch lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ representatives.
You believe that you know the number of years left on your lease but it would be wise to verify this via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the lease term is below 75 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. Some Aldermanbury leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers. If you have had any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as historic rather than unsettled. Many freeholders or Management Companies in Aldermanbury levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most usual cause of delay in leasehold conveyancing in Aldermanbury.

I am the proprietor of a two-bedroom flat in Aldermanbury. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?

Most certainly. We are happy to put you in touch with a Aldermanbury conveyancing firm who can help.

An example of a Lease Extension decision for a Aldermanbury premises is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case affected 2 flats. The number of years remaining on the existing lease(s) was 72.39 years.

I have just started marketing my basement apartment in Aldermanbury.Conveyancing solicitors are to be appointed soon however I have just received a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?

Your conveyancing lawyer is likely to suggest that you should clear the maintenance contribution as normal as all ground rent and service invoices should be allottedas part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially