Should my conveyancer be raising questions concerning flooding during the conveyancing in Belmont.
Flooding is a growing risk for conveyancers dealing with homes in Belmont. Plenty of people will purchase a house in Belmont, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, however there are a numerous searches that can be undertaken by the buyer or by their conveyancers which will give them a better appreciation of the risks in Belmont. The conventional set of completed inquiry forms supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to determine whether the property has suffered from flooding. If flooding has previously occurred which is not disclosed by the seller, then a purchaser may issue a legal claim for losses stemming from an misleading response. A purchaser’s lawyers may also order an enviro search. This should indicate whether there is any known flood risk. If so, additional inquiries will need to be made.
I am purchasing a new build house in Belmont with a loan from TSB. The builders refused to move on the price so I negotiated £7000 of additionals instead. The house builders rep suggested that I not inform my lawyer about the extras as it would adversely affect my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in Belmont I like with a park and transport links in the vicinity, however it only has 52 years on the lease. There is not much else in Belmont suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the shortness of the lease will be problematic. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
What does commercial conveyancing in Belmont cover?
Non domestic conveyancing in Belmont incorporates a broad range of services, offered by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
My father-in-law has recommend that I use his conveyancers in Belmont. Should I find my own conveyancer?
There are no two ways about it the ideal way to find a conveyancing lawyer is to get referrals from friends or family who have actually previously instructed the conveyancer you're are thinking of instructing.
I own a leasehold house in Belmont. Conveyancing and National Westminster Bank mortgage are in place. A letter has just been received 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 Belmont who previously acted has now retired. Any advice?
First make enquiries of the Land Registry to make sure that the individual claiming to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Belmont conveyancing practitioner to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
We have reached the end of our tether in seeking a lease extension in Belmont. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing landlord or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the LVT to arrive at the sum to be paid.
An example of a Freehold Enfranchisement case for a Belmont premises is Buchanan Court 39 Vernon Road in April 2010. the Tribunal assessed that the premium payable for the freehold of the block should be £44,000. This case related to 2 flats. The number of years remaining on the existing lease(s) was 66.67 years.