Just contacted my conveyancing solicitor in Buckhurst Hill who acted for me two years ago requesting a conveyancing costs illustration based on the same type of house move (a leasehold property and a freehold premises) of almost identical values with a loan from The Royal Bank of Scotland. I am now being quoted twice the amount. Better the devil I know or do I seek out an alternative property lawyer?
The charges are a tad high. If you you were to look around you could get the conveyancing a bit cheaper by say a hundred pounds. On the other hand, if you were satisfied with the conveyancing the firm offered you maycome to rue choosing an an untested solicitor. Don't forget to ensure the firm can also act for The Royal Bank of Scotland. You can use our search tool to select a Buckhurst Hill conveyancing firm on the The Royal Bank of Scotland approved list of lawyers, which can often include conveyancing solicitors in Buckhurst Hill.
I am the registered owner of a freehold property in Buckhurst Hill but still pay rent, why is this and what is this?
It’s unusual for properties in Buckhurst Hill and has limited impact for conveyancing in Buckhurst Hill but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
My stepmother pointed out to me me that in buying a property in Buckhurst Hill there may be various restrictions preventing external changes to the property. Is this right?
There are anumerous of properties in Buckhurst Hill which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Buckhurst Hill should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Completion of my remortgage has taken place for my property in Buckhurst Hill. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
UBS have agreed my mortgage in principle, my bid on a flat in Buckhurst Hill has been agreed to, now what?
The property agent will want to be advised as to your lawyer's details (ensure that the solicitors are on the bank’s panel). Contact UBS or the financial adviser and finish off any outstanding paperwork. UBS will sellect a valuer who will get in touch with the estate agent or vendor to book a time for the valuation to occur. Once conducted (assuming no problems) it takes on average a week to get a mortgage offer. UBS will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Buckhurst Hill.
I’m about to sell my ground floor flat in Buckhurst Hill. Conveyancing is yet to be initiated, but I have recently had a yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as you normally would given that all ground rent and maintenance payments should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless 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.
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Buckhurst Hill conveyancing firm to act on my behalf?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to determine the amount due.
An example of a Freehold Enfranchisement case for a Buckhurst Hill 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 lease term was 69.26 years.
Is there a reason that Buckhurst Hill conveyancing fees differ for leasehold and freehold properties?
When buying a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control