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Ready to buy a new home in Harold Hill? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Harold Hill transaction at risk of delay or failure.

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Recently asked questions about conveyancing in Harold Hill

I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in Harold Hill. My lender is Nationwide Building Society

Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 7/12/2018, the requirements read as follows :

This question may be naive but I am unseasoned as a 1st time purchaser of a ground floor flat in Harold Hill. Do I collect the keys to the house on completion from my solicitor? If this is the case, I will appoint a High Street conveyancing solicitor in Harold Hill?

On the day of completion you do not need to attend the conveyancers office in Harold Hill. Your solicitors will transfer the purchase money to the owner’s solicitors, and shortly after the monies have arrived, you will be called to pick up the keys from the selling Agents and move into your new home. Usually this happens between 1 and 3pm.

Please help - my lawyer says that lack of building regulations insurance is required on my purchase. What is the level of cover for Harold Hill conveyancing?

The right level of lack of building regulations indemnity insurance depends on your lender. It would differ for example between Lloyds TSB Bank and Coventry Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.

Our offer on a house in Harold Hill has been agreed to, but there is a chain. The sellers have placed an offer on a property, but it’s not yet tied up, and have viewings of other properties in the pipeline. I have selected a high street conveyancing solicitor in Harold Hill. What do I do now? At what point do I apply for the mortgage with UBS?

It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is approx one thousand pounds, then valuation, Harold Hill conveyancing search charges, etc). The first course of action is to check that your conveyancing practitioner is on the UBS approved list. Regarding the next stages this very much dictated by the specifics of your case, desire for the property and on the state of the market. In a hot market some home buyers will apply for the mortgage with UBS and pay for the valuation and only if it comes back ok would they request their property lawyer to press on with searches.

What will a local search reveal regarding the house my wife and I buying in Harold Hill?

Harold Hill conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Searchflow The local search plays an important part in most Harold Hill conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your property. The search should reveal information on, amongst other things, details on planning applications relevant to the premises (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 thirteen topic sections.

I used Arc property Solicitors a few years ago for my conveyancing in Harold Hill. I now require my papers however cannot find the solicitor. What do I do?

You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Harold Hill of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.

I am tempted by the attractive purchase price for a two flats in Harold Hill which have in the region of fifty years remaining on the lease term. should I be concerned?

There is no doubt about it. A leasehold apartment in Harold Hill is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to its expiry date, the more it adversely affects the salability of the property. For most buyers and mortgage companies, leases with under 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Harold Hill conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Having spent years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Harold Hill. Can we issue an application to the Residential Property Tribunal Service?

Absolutely. We are happy to put you in touch with a Harold Hill conveyancing firm who can help.

An example of a Lease Extension case for a Harold Hill property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The unexpired residue of the current lease was 57.5 years.

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