Will my conveyancer be making enquiries regarding flooding as part of the conveyancing in Chingford.

Flooding is a growing risk for solicitors carrying out conveyancing in Chingford. Plenty of people will acquire a house in Chingford, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.

Lawyers are not qualified to offer advice on flood risk, however there are a numerous checks that may be carried out by the buyer or by their lawyers which will give them a better appreciation of the risks in Chingford. The standard property information forms supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the owner to find out if the premises has ever been flooded. If the residence has been flooded in past which is not disclosed by the vendor, then a buyer may issue a claim for damages stemming from an misleading reply. The purchaser’s lawyers will also commission an environmental search. This should disclose whether there is a recorded flood risk. If so, further inquiries will need to be conducted.

Are there restrictive covenants that are commonly picked up during conveyancing in Chingford?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Chingford. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

I have been on the look out for a flat up to £245,000 and identified one round the corner in Chingford I like with a park and station nearby, however it only has 49 years unexpired on the lease. I can't really find anything else in Chingford in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?

Should you need a mortgage the remaining unexpired lease term may be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.

I've recently bought a leasehold flat in Chingford. Am I liable to pay service charges for periods before completion of my purchase?

Where the service charge has already been demanded from the previous owner 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. A critical element 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 inherited a ground-floor 1950’s flat in Chingford. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum payable for a lease extension?

Absolutely. We can put you in touch with a Chingford conveyancing firm who can help.

An example of a Freehold Enfranchisement decision for a Chingford 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 affected 2 flats. The unexpired residue of the current lease was 69.26 years.

There are a number of houses in Chingford on private roads. We are purchasing such a property. Are there any advantages to purchasing a house on a private road?

Chingford conveyancing lawyers will be used to conveyancing homeson private. The solicitor will review the Land Registry data to identify any rights or liabilities. In many cases there is a management company (wholly owned by residents) that owners make annual contributions for the upkeep of the road. Where one exists, the road should be maintained and appear nicer than council adopted.