The Hadley Wood conveyancing solicitors that just started acting on my purchase in Hadley Wood have suddenly closed. I only went with them because I needed a lawyer on the Lloyds conveyancing panel and my family Hadley Wood lawyer was not. I sent them a cheque for £250 in advance. What are my options?
If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Lloyds conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
What does a local search tell me about the property we're purchasing in Hadley Wood?
Hadley Wood conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance Xpress Legal The local search is essential in every Hadley Wood conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search should provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
Just had an offer accepted on a new build flat in Hadley Wood. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Hadley Wood
Please supply a car parking plan. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Due to the encouragement of my in-laws I had a survey completed on a house in Hadley Wood before instructing lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some banks may refuse to grant a loan on such a premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to call us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hadley Wood. Conveyancing may be slightly more expensive based on your lender's requirements.
I have had difficulty in trying to reach an agreement for a lease extension in Hadley Wood. Can this matter be resolved via the Leasehold Valuation Tribunal?
You certainly can. We are happy to put you in touch with a Hadley Wood conveyancing firm who can help.
An example of a Lease Extension decision for a Hadley Wood property is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case affected 1 flat. The unexpired residue of the current lease was 76 years.
What makes a Hadley Wood lease problematic?
Leasehold conveyancing in Hadley Wood is not unique. Most leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
Maintenance charge proportions which don’t add up to the correct percentage
You may encounter 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. Santander, The Mortgage Works, and Alliance & Leicester all have express conveyancing instructions 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 buyer to pull out.