When can the exchange of contracts occur in sale conveyancing in North Ockendon and am I required to attend the solicitors office?

Where you are local to our conveyancing solicitors in North Ockendon you are welcome to come in to sign documents. That being said, the law practices we recommend provide countrywide coverage for conveyancing and provide as equally diligent and professional a job for you when communicating with you electronically. The signing of the contract is not the important part. A signed contract is just a prerequisite for the conveyancer to officially exchange when the time is right, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in North Ockendon)to be in the office at the appropriate time.

I have an AIP. The lender mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel lawyer as I would prefer to appoint a local conveyancing solicitor in North Ockendon?

You should check but the chances are that appoint one of their panel conveyancers where you take up the "fee-free" deal. Contact the bank to check if they make available a monetary alternative. Some lenders have previously offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in North Ockendon.

There are a variety of conveyancing solicitors in North Ockendon but how do I know who I should use?

We would encourage you not to go for the lowest North Ockendon conveyancing costs illustration. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.

I am assisting my step-mother sell her house in North Ockendon. Will the conveyancer arrange an energy performance certificate or it is for me to coordinate?

After the abolition of Home Packs, energy performance certificates was retained a required element of moving property. An energy assessment must be to hand before the property is placed on the market. It is not a task that law firms ordinarily arrange. Where you are using a North Ockendon conveyancing lawyer they might be willing to arrange EPC’s due to their contacts with long established local providers

It is unclear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my North Ockendon building society branch on numerous occasions and was told they are content with the situation and they would lend. My North Ockendon conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they refuse to lend in accordance with their specific requirements. Who do I believe?

Your property lawyer has to follow the Council of Mortgage Lenders’ Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

I'm buying my first flat in North Ockendon with the aid of help to buy. The sellers would not reduce the amount so I negotiated 6k of additionals instead. The estate agent told me not disclose to my lawyer about the side-deal as it may affect my mortgage with TSB. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I work for a reputable estate agency in North Ockendon where we have experienced a few flat sales put at risk as a result of leases having less than 80 years remaining. I have been given contradictory information from local North Ockendon conveyancing firms. Could you confirm whether the owner of a flat can commence the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have 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 sale.

Alternatively, it may be possible 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 purchaser.

I am the registered owner of a ground floor flat in North Ockendon. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the premium due for a lease extension?

in cases where there is a missing landlord or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to calculate the price payable.

An example of a Lease Extension decision for a North Ockendon flat 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 unexpired term as at the valuation date was 57.5 years.