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Recently asked questions about conveyancing in Edmonton

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

Edmonton leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.

My bid for a property was accepted at auction in Edmonton. Conveyancing is required. What are my next steps?

Having legally bound yourself to purchase you will need to choose a conveyancing practitioner as a matter of priority as you now have a fast approaching a drop dead date to complete the conveyancing. All auction property should have a bespoke legal pack. This will likely include most,if not all of the documents that your lawyer will need. If you have purchased leasehold premises the conveyancing pack may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to leasehold premises. You should hand this to the solicitor working for you at the earliest opportunity. You also need to ensure that you have funds in order to complete the transaction on the set completion date.

I am buying a property in Edmonton. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nottingham be concerned?

Given that you are obtaining a mortgage with Nottingham your lawyer must follow the conveyancing requirements outlined in Section 2 of UK Finance Lenders’ Handbook for Nottingham. The CML Handbook includes minimum requirements for solar panel roof-space leases, and solicitors are required to report to Nottingham where a lease fails to satisfy these provisions. The specifications relate to the installation of panels on properties countrywide and is not isolated to Edmonton.

Having digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Edmonton solicitor - who is on the Co-operative conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?

Co-operative will need an independent valuation of the property. Your lawyer will not arrange this. Usually Co-operative will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Edmonton postcode. As you are getting a mortgage with Co-operative, you could contact them to see if they have a list of approved surveyors in Edmonton.

Will our conveyancer be raising questions about flooding as part of the conveyancing in Edmonton.

Flooding is a growing risk for lawyers conducting conveyancing in Edmonton. There are those who acquire a property in Edmonton, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.

Conveyancers are not best placed to impart advice on flood risk, but there are a numerous checks that can be initiated by the purchaser or by their lawyers which can figure out the risks in Edmonton. The standard completed inquiry forms given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual question of the vendor to discover whether the premises has historically flooded. In the event that flooding has previously occurred and is not disclosed by the seller, then a purchaser may issue a claim for damages stemming from an incorrect response. A buyer’s conveyancers should also commission an enviro search. This will disclose if there is a recorded flood risk. If so, additional investigations will need to be initiated.

Due to the guidance of my in-laws I had a survey completed on a house in Edmonton before retaining lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some banks may refuse to give a loan on this type of house.

It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. If you e-mail us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Edmonton. Conveyancing may be slightly more expensive based on your lender's requirements.

I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can one apply to the Leasehold Valuation Tribunal? Can you recommend a Edmonton conveyancing firm to help?

Where there is a absentee freeholder or where there is dispute about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the sum to be paid.

An example of a Vesting Order and Purchase of freehold case for a Edmonton flat is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case related to 2 flats. The unexpired lease term was 80.01 years.

What are the frequently found problems that you see in leases for Edmonton properties?

Leasehold conveyancing in Edmonton is not unique. All leases are unique and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:

    Maintenance charge proportions which don’t add up to the correct percentage A provision for the recovery of money spent for the benefit of another party.

You will have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Lloyds TSB Bank, Norwich and Peterborough Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.

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Find out more about how flying freehold can affect your the value of a property.