Having sold my house in Temple last February yet the purchaser is e-mailing daily complaining that their solicitor is waiting to hear from mylawyer. What should my lawyer have done following completion?
After completion of your disposal your lawyer should forward the transfer deeds and all supplemental paperwork to the buyer’s conveyancer. Depending on the transaction, your solicitor must also send confirmation that the home loan has been discharged to the buyers conveyancers. There are no post completion steps peculiar conveyancing in Temple.
How does conveyancing in Temple differ for newly converted properties?
Most buyers of new build or newly converted property in Temple contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because house builders in Temple typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Temple or who has acted in the same development.
I have been on the look out for a flat up to £305k and found one close by in Temple I like with amenity areas and station nearby, the downside is that it only has 61 remaining years left on the lease. There is not much else in Temple suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a mortgage that many years may be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
How do I search for a Temple solicitor on the Aldermore conveyancing panel? I am a keen cyclist and am prepared to travel upto 20miles to meet the conveyancer.
You can use the search on this page. Please select a bank and your location and you will see a number of Temple conveyancing lawyers based on proximity. We have listed some Temple conveyancing firms at the bottom of this page and you can call them to check if they are on the Aldermore approved list
What advice can you give us when it comes to finding a Temple conveyancing practice to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Temple conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We advise that you talk with two or three firms including non Temple conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be helpful:
How experienced is the firm with lease extension legislation? What volume of lease extensions have they conducted in Temple in the last twenty four months?
I inherited a two-bedroom flat in Temple. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the sum due for a lease extension?
Absolutely. We are happy to put you in touch with a Temple conveyancing firm who can help.
An example of a Lease Extension case for a Temple residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case affected 1 flat. The remaining number of years on the lease was 66.8 years.