Is there a reason why leasehold purchase conveyancing in Chelsfield is more expensive?

Chelsfield leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.

I am considering applying for a Leeds Building Society mortgage for purchase of a new build (under development) in Chelsfield with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Leeds Building Society ?

There is nothing to stop you using your solicitor, but Leeds Building Society will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.

I have todaydiscovered that Action Conveyancing have been shut down. They conducted my conveyancing in Chelsfield for a purchase of a freehold house 12 months ago. How can I establish that my home is in my name in the name of the previous owner?

The quickest method to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Chelsfield conveyancing specialists.

I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Chelsfield is the location of the property. Can you shed any light on this issue?

Flying freeholds in Chelsfield are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Chelsfield you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chelsfield may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.

I inherited a ground-floor 1960’s flat in Chelsfield. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?

in cases where there is a missing freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the price.

An example of a Lease Extension matter before the tribunal for a Chelsfield premises is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case affected 1 flat. The unexpired term as at the valuation date was 50.57 years.

What are the common defects that you witness in leases for Chelsfield properties?

Leasehold conveyancing in Chelsfield is not unique. All leases are individual and legal mistakes in the legal wording can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:

A provision to repair to or maintain parts of the premises

You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Skipton Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to pull out.