How do I check that the solicitor carrying out my conveyancing in Otford is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Aldermore thus spending £192.00 in additional legal charges.
Please do take advantage of the search tool on this web page. Please choose the mortgage company and type ‘Otford’ or your location and you will be presented with numerous conveyancers located in Otford or near you.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what was supposed to be a simple, no chain conveyancing. Otford is where the house is located. Is there any advice you can impart?
Flying freeholds in Otford are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Otford you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Otford may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
How does the Landlord & Tenant Act 1954 impact my business offices in Otford and how can you help?
The 1954 Act gives protection to commercial leaseholders, giving them the legal entitlement to make a request to court for a continuation of occupancy at the end of an expired lease. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act for protection and assist with commercial conveyancing in Otford
Am I best advised to choose a Otford conveyancing solicitor based in the area that I am purchasing? I have an old university friend who can execute the legal work but they are based over three hundred kilometers drive away.
The primary upside of using a high street Otford conveyancing firm is that you can visit the firm to execute paperwork, present your ID and pester them if necessary. Having local Otford know how is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and they were happy that should outweigh using an unfamiliar Otford conveyancing solicitor just because they are round the corner.
Last September I purchased a leasehold flat in Otford. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a split level flat in Otford, conveyancing was carried out July 2006. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Otford with over 90 years remaining are worth £201,000. The average or mid-range amount of ground rent is £45 levied per year. The lease comes to an end on 21st October 2091
With only 65 years remaining on your lease we estimate the price of your lease extension to span between £13,300 and £15,400 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.