My solicitor has informed me that missing deeds insurance is needed on my purchase. What is the level of cover for Cubitt Town conveyancing?
The appropriate level of missing deeds indemnity insurance should be dictated by who who your lender is. It would differ for example between Nationwide Building Society and Virgin Money. Conveyancing practitioners as opposed to borrowers take out such insurances.
We were going to get a DIP from Nottingham this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nottingham recommend any Cubitt Town solicitors on the Nottingham conveyancing panel, or is it better to go independently?
You will need to appoint Cubitt Town solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
Intending to buy a flat in Cubitt Town. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Lloyds conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Cubitt Town solicitor is on the Lloyds conveyancing panel.
How does conveyancing in Cubitt Town differ for newly converted properties?
Most buyers of new build residence in Cubitt Town approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Cubitt Town usually acquire the land, 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 property lawyers 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 accustomed to new build conveyancing in Cubitt Town or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Cubitt Town prior to instructing conveyancers. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some lenders tend refuse to give a loan on this type of home.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. If you e-mail us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Cubitt Town. Conveyancing will be smoother if you use a solicitor in Cubitt Town especially if they are accustomed to such properties in Cubitt Town.
In what way does the Landlord & Tenant Act 1954 impact my business property in Cubitt Town and how can your lawyers assist?
The particular law that you refer to gives a safeguard to business leaseholders, giving them the right to apply to court for a renewal lease and remain in occupation when the lease comes to an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act for protection and assist with commercial conveyancing in Cubitt Town
Having checked my lease I have discovered that there are only 68 years remaining on my lease in Cubitt Town. I now want to extend my lease but my freeholder is absent. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to track down the freeholder. For most situations an enquiry agent may be helpful to conduct investigations and to produce a report to be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the application to the County Court covering Cubitt Town.
I inherited a a ground floor purpose built flat in Cubitt Town. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
Absolutely. We can put you in touch with a Cubitt Town conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Cubitt Town premises is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The remaining number of years on the lease was 101.61 years.
We are about to complete buying a property in Cubitt Town but as a result of damage from the recent storms I have agreed reparation from the vendor of £2k by way of a adjustment in the price. This was going to be addressed as part of the conveyancing process but the bank will not permit this. Should they have been approached?
Your solicitor that is on a mortgage company approved list is obliged to disclose to the bank of any changes to the purchase price. If you were to refuse your conveyancer to disclose the reduction to your mortgage company then they would have to disinstructing themselves from representing you and the lender.