My conveyancer has discovered a a problem with the lease for the apartment we are purchasing in Waltham Cross. The other side have put forward title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer has advised that he must be satisfied that the lender is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. The appropriate lender provisions must be adhered to.
Why do I have to pay up front when it comes to conveyancing in Waltham Cross?
If you are buying a property in Waltham Cross your solicitor will ask you place them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. When the deposit is as part of the total price then this should be needed immediately prior to exchange of contracts. Any further balance that is due should be sent to your lawyer a couple of days ahead of the day of completion.
We are buying a property and the conveyancer has raised the issue of Chancel Repair for which the property could be liable given it’s proximity to the area of such a church. She has mentioned insurance. Is this really appropriate for conveyancing in Waltham Cross
Unless a previous acquisition of the property completed after 12 October 2013 you could assume that solicitors conducting conveyancing in Waltham Cross to remain encouraging a chancel search and or chancel repair liability policy.
In what way can the Landlord & Tenant Act 1954 impact my commercial offices in Waltham Cross and how can your lawyers assist?
The 1954 Act affords security of tenure to commercial tenants, giving them the right to apply to court for a new lease and continue in occupation at the end of the lease term. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and handle your commercial conveyancing in Waltham Cross
Do you have any top tips for leasehold conveyancing in Waltham Cross from the perspective of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Waltham Cross can be avoided if you get in touch lawyers the minute you market your property and ask them to collate the leasehold information which will be required by the purchasers’ representatives. You may think that you are aware of the number of years left on your lease but it would be advisable verify this 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 below 75 years. In the circumstances it is essential at an early stage that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share document. Obtaining a duplicate share certificate can be a time consuming process and slows down many a Waltham Cross home move. Where a new share certificate is required, do contact the company officers or managing agents (if applicable) for this sooner rather than later. If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to present the dispute as historic rather than ongoing.
After months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Waltham Cross. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a missing freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to calculate the sum to be paid.
An example of a Vesting Order and Purchase of freehold case for a Waltham Cross flat is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case was in relation to 2 flats. The unexpired lease term was 80.01 years.