We are about to sign contracts for a leasehold flat in Avery Hill. We have hit a snag. Our loan offer with Alliance & Leicester runs out on 6/1/2025 but the sellers are suggesting a completion date of 8/1/2025. Can one extend the loan offer?
The person best placed to deal with your issue is your lawyer who should assess whether he or she is corresponding with the mortgage broker, vendor’s conveyancers, selling agents or indeed all three given the circumstances your conveyancing to date.
The Avery Hill conveyancing lawyers that I appointed last week on my house acquisition in Avery Hill have without warning shut down. I only went with them because I had to have a solicitor on the Kent Reliance conveyancing panel and my family Avery Hill lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Kent Reliance conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
I have been told that property searches are the number one reason for stalling in Avery Hill house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of holding up conveyancing in Avery Hill.
How does conveyancing in Avery Hill differ for newly converted properties?
Most buyers of new build premises in Avery Hill contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Avery Hill usually acquire 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 conveyancers 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 Avery Hill or who has acted in the same development.
I own a leasehold flat in Avery Hill. Conveyancing and Coventry Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Avery Hill who acted for me is not around. Do I pay?
First contact HMLR to be sure that the individual claiming to own the freehold is indeed the new freeholder. There is no need to instruct a Avery Hill conveyancing practitioner to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Notwithstanding our best efforts, we have been unsuccessful in trying to reach an agreement for a lease extension in Avery Hill. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a missing freeholder or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to calculate the amount due.
An example of a Lease Extension matter before the tribunal for a Avery Hill premises is 103a Footscray Road in January 2014. The tribunal determines that the premium payable for the extended lease should be £34,500 according to the expert witness valuation calculation This case related to 1 flat.