When will exchange of contracts take place for purchase conveyancing in Woodcote Green and do I need to be at the conveyancers branch?
Where you are round the corner to our conveyancing solicitors in Woodcote Green you are invited in to sign documents. However, the law practices we work with offer countrywide coverage for conveyancing and provide just as comprehensive and professional a job for you when communicating with you by post or email. The signing of the purchase agreement is not when everything is set in stone. A signed contract simply enables the conveyancer to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Woodcote Green)to be in the office available at the end of the phone to exchange contracts.
About to place an offer on a leasehold flat in Woodcote Green. The estate agents tell me that it is normal for flats in Woodcote Green to have less than 75 years unexpired on the lease. I am getting a loan with Tesco Bank. Is this going to be a problem if the lease has 72 years unexpired.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 13/7/2019 the requirements read as follows :
For new build properties, the following lease terms are not acceptable:
- The unexpired lease term on a new build flat is less than 125 years
- The unexpired lease term on a new build house is less than 250 years
If the lease cannot be amended to comply with the above, the case cannot proceed. Please advise us immediately where the case cannot proceed.
Contact point as detailed in 1.11b.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The conveyancers who conducted the conveyancing in Woodcote Green 10 years ago no longer exist. What do I do?
You no longer need to have the physical official documentation to evidence that you are the registered proprietor of land or premises, as the Land Registry hold details of all registered land or property electronically.
My husband and I are novice buyers - had an offer accepted, but the estate agent advised that the seller will only go ahead if we instruct their chosen lawyers as they need a ‘quick sale’. We would rather use a high street conveyancer who is familiar with conveyancing in Woodcote Green
It is highly unlikely the owners are behind this. If they want ‘a quick sale', taking such a hostile approach to a serious purchaser is likely to cause more damage than good. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you are going to instruct your own,trusted Woodcote Green conveyancing solicitors - not the ones that will earn their negotiator at the agency a commission or meet his conveyancing figures pre-set by head office.
I am a negotiator for a long established estate agent office in Woodcote Green where we have experienced a number of flat sales put at risk due to leases having less than 80 years remaining. I have received inconsistent advice from local Woodcote Green conveyancing solicitors. Can you clarify whether the owner of a flat can commence the lease extension formalities 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 start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
An alternative approach is 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 buyer.
I own a first floor flat in Woodcote Green. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum due for a lease extension?
You certainly can. We are happy to put you in touch with a Woodcote Green conveyancing firm who can help.
An example of a Lease Extension case for a Woodcote Green property is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case was in relation to 1 flat. The unexpired lease term was 71.73 years.