I am in a contract race with another buyer for a property in Clapham. What can be done to accelerate the legal process?
First, If the seller is applying pressure for your conveyancing it is highly recommended that your lawyer is familiar with the location as they will have local relationships and knowledge. It is possible that they would have transacted otherhomes in the same road. You would be best advised to use a Clapham conveyancing solicitor. In addition, be sure that the lawyer is on the lender panel. It is believed that just under twenty per cent of Clapham conveyancing deals are suspended or jeopardised after discovering a purchaser’s solicitor was not on their mortgage lender’s list of approved solicitors. This can often result in the legal process being frustrated by an average of 21 days. It is believed that this issue impacts in the region of one hundred thousand home sales annually. Almost all Clapham conveyancing firms can not act for certain mortgage companies so do check as early as possible.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Clapham?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Clapham. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
The estate agent has sent us the confirmation of our purchase of a new build flat in Clapham. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Clapham
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I am thinking of appointing a conveyancing lawyer in Clapham for my house move. Can I see a firm’s complaints history with the legal regulator?
One can review published Solicitor Regulator Association (SRA) determinations resulting from investigations from 2008 onwards. Go to Check a solicitor's record. For details Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The regulator could recorded call for training purposes.
I am tempted by the attractive purchase price for a two flats in Clapham both have in the region of fifty years unexpired on the lease term. Will this present a problem?
There is no doubt about it. A leasehold flat in Clapham is a wasting asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the premises. For most purchasers and banks, leases with less than 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Clapham conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
After years of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Clapham. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
in cases where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to assess the premium.
An example of a Freehold Enfranchisement case for a Clapham premises is 23 Chelsham Road in May 2013. the Tribunal found that the sum of £13,870.00 was payable for the freehold following a vestig order having been granted by Swansea County Court dated 1st March 2013 This case was in relation to 3 flats. The unexpired term was 99 years.