I'm in the process of swapping over from my existing standard home loan to a BTL Accord Mortgages Ltd mortgage. The bank has said that I require a solicitor as part of the process. I got in contact with my past Malden conveyancing firm who who completed the conveyancing when I originally purchased the premises. The costs illustration they've given of £575 plus disbursements is an eye-watering amount to do this as its a refinance than a sale or purchase.
The costs illustration is slightly on the expensive side. If you are happy to spend time scrutinising quotes you could shave off some of the expense by perhaps £100 plus VAT. That being said, assuming were happy with the legal work the firm provided you mightlive to regret opting for an an untested solicitor. Don't forget to ensure that the firm can represent Accord Mortgages Ltd. Do use our search tool to locate a Malden conveyancing firm on the Accord Mortgages Ltd member panel, which can often include conveyancing solicitors in Malden.
It has been four months since my purchase conveyancing in Malden concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build flat in Malden. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Malden
Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan.
Over the last few months I have been searching for a ground for flat up to £305k and identified one round the corner in Malden I like with amenity areas and railway links nearby, however it's only got 51 remaining years left on the lease. There is not much else in Malden for this price, so just wondered if I would be making a mistake buying a short lease?
Should you require a home loan the remaining unexpired lease term will be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
I am a negotiator for a long established estate agency in Malden where we have experienced a few flat sales jeopardised due to leases having less than 80 years remaining. I have received contradictory information from local Malden conveyancing solicitors. Could you clarify whether the owner of a flat can start the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Malden conveyancing firm to assist?
You certainly can. We are happy to put you in touch with a Malden conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Malden residence is 158 West Hill in November 2010. the Tribunal held that the premium to be paid for the freehold reversion should be £99,650 This case related to 7 flats. The unexpired lease term was 75.88 years.