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Recently asked questions about conveyancing in Havering

Is there a reason to appoint a Havering conveyancing practice when internet based alternatives are more affordable?

Its a good idea to get 2 or 3 like-for-like quotes for conveyancing costs in Havering and you should seek an affordable estimate but don’t be focused with getting the cheapest Havering conveyancer. Appointing the right conveyancer can be the difference between a seamless and a frustrating home move. It is important that you ensure that you have expert guidance from a trusted lawyer. Emails can't take the place of a phone call and are no substitute for a one to one appointment. The firms that we work with will allocate you a qualified and trusted conveyancing solicitor that will deal with your conveyancing from start to finish, giving the sort of hand holding that you are unlikely to received from an online conveyancer. He or She will keep you updated on headway and keep you informed. If you ever need to phone the firm you will be sure who you need to speak to and they will be sure you are in the know.

Will our solicitor be raising questions regarding flooding during the conveyancing in Havering.

Flooding is a growing risk for conveyancers conducting conveyancing in Havering. Plenty of people will purchase a house in Havering, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.

Solicitors are not best placed to give advice on flood risk, however there are a numerous searches that may be carried out by the buyer or by their conveyancers which will figure out the risks in Havering. The conventional set of completed inquiry forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the owner to determine if the property has suffered from flooding. In the event that flooding has previously occurred and is not revealed by the vendor, then a purchaser could issue a claim for damages as a result of such an inaccurate reply. A purchaser’s lawyers should also conduct an environmental report. This should disclose whether there is any known flood risk. If so, additional investigations will need to be carried out.

What does commercial conveyancing in Havering cover?

Commercial conveyancing in Havering covers a broad range of services, supplied by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.

I am attracted to a two maisonettes in Havering which have in the region of fifty years left on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in Havering is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. For most buyers and mortgage companies, leases with less than 75 years become less and less marketable. On a more positive 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 a residence 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 Havering conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend 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.

I am the leaseholder of a garden flat in Havering. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum due for the purchase of the freehold?

Where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the relevant legislation it is possible to make an application to the First-tier Tribunal (Property Chamber) to assess the sum to be paid.

An example of a Lease Extension matter before the tribunal for a Havering residence 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 related to 1 flat. The remaining number of years on the lease was 57.5 years.

I have just placed an offer on a leasehold flat in Havering and the estate agent that we are using suggested his conveyancing practitioner. They quoted £900 including VAT and 3rd party costs. Does this sound steep?

You should not rely on a single estimate. You should seek like-for-like quotes for your conveyancing in Havering. Then choose one that you are comfortable with and just as important, is on the approved panel of the bank that you are sourcing your mortgage from.

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