Do lenders provide you with an approved list of Upper Edmonton conveyancing solicitors? How do you know who is on the Santander conveyancing panel?
Upper Edmonton conveyancing firms themselves provide us confirmation that they are on the Santander conveyancing panel as opposed to being supplied with a list from Santander directly.
Do I need to take out insurance to address the risk of chancel repairs when acquiring a property in Upper Edmonton?
Unless a previous acquisition of the premises completed after 12 October 2013 you may take it that solicitors delivering conveyancing in Upper Edmonton to continue to recommend a chancel search and or chancel repair liability policy.
It has been 4 months following my purchase conveyancing in Upper Edmonton took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. 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 property 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.
How does conveyancing in Upper Edmonton differ for newly converted properties?
Most buyers of new build premises in Upper Edmonton contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is built. This is because new home sellers in Upper Edmonton usually buy the real estate, 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 used to new build conveyancing in Upper Edmonton or who has acted in the same development.
Can you provide any top tips for leasehold conveyancing in Upper Edmonton with the aim of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Upper Edmonton can be reduced where you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers’ solicitors. You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check via your conveyancers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the remaining number of years is under 80 years. It is therefore important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Upper Edmonton state that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord acquiescing to such changes. Should you dont have the approvals in place you should not communicate with the landlord without checking with your lawyer in the first instance. If you have the benefit of shareholding in the Management Company, you should ensure that you have the original share document. Obtaining a new share certificate is often a time consuming formality and slows down many a Upper Edmonton conveyancing deal. Where a reissued share is needed, do contact the company director and secretary or managing agents (if applicable) for this as soon as possible.
I purchased a 2 bed flat in Upper Edmonton, conveyancing formalities finalised 9 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Upper Edmonton with an extended lease are worth £179,000. The ground rent is £65 charged once a year. The lease expires on 21st October 2082
With only 57 years unexpired we estimate the price of your lease extension to span between £26,600 and £30,800 as well as legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.