I am buying a brand new apartment in Belmont and my solicitor is informing me that she has to the mortgage company to disclose incentives from the seller. I am nearing the developer’s deadline to sign contracts and my preference is not to delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am assisting my sister sell her property in Belmont. Does the solicitor arrange the EPC or it is for me to see to?
After the demise of HIPs, EPC’s remained a required element of selling a house. An energy assessment needs to be commissioned in advance of the property being advertised. This is not as aspect of the sale process that lawyers normally arrange. Where you are instructing a Belmont conveyancing lawyer they might help arrange energy performance certificates due to their contacts with reputable Belmont accredited person
I'm in the process of viewing houses in Belmont and I am about to put in an offer. Is it best to have a solicitor on ‘stand by’? I will be getting a mortgage with Co-operative.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. Given that you are getting a mortgage with Co-operative, ask your prospective lawyers if they are on the Co-operative conveyancing panel otherwise they can't do the mortgage legal work.
I have paid off my mortgage with Nottingham. I assume I don't need a Belmont conveyancer on the Nottingham panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nottingham mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham mortgage from the register. Nottingham, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
Should our conveyancer be raising enquiries concerning flooding during the conveyancing in Belmont.
Flooding is a growing risk for solicitors dealing with homes in Belmont. There are those who buy a property in Belmont, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, however there are a various checks that may be carried out by the purchaser or by their conveyancers which can give them a better appreciation of the risks in Belmont. The standard property information forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual question of the vendor to determine whether the premises has ever been flooded. If the property has been flooded in past and is not notified by the owner, then a buyer could commence a legal claim for losses stemming from an misleading response. A buyer’s conveyancers will also commission an enviro search. This should reveal if there is any known flood risk. If so, more detailed inquiries will need to be carried out.
Just had an offer accepted on a new build apartment in Belmont. Conveyancing is necessary evil 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 selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Belmont
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There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. 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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a simple, no chain conveyancing. Belmont is where the house is located. Is there any advice you can impart?
Flying freeholds in Belmont are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Belmont you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Belmont may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I have just started marketing my garden apartment in Belmont. Conveyancing lawyers have not yet been instructed, however I have recently received a quarterly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as normal because all rents and maintenance charges should be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Belmont conveyancing firm to help?
Absolutely. We can put you in touch with a Belmont conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Belmont premises is 197 Byron Road in March 2013. In relation to the value of the extended lease the tribunal concluded that the appropriate premium should be £19237 This case was in relation to 1 flat. The unexpired term was 70.92 years.