I am close to exchanging contracts on the sale of our property in Dalston and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. Any local lawyer would know that there is no such problem. For the life of me I don't know why the purchasers are using a nationwide conveyancing outfit rather than a conveyancing solicitor in Dalston. We have lived in Dalston for six years we know of no issue. Is it a good idea to contact our local Authority to get confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing firm currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I'm buying my first flat in Dalston with a mortgage from Accord Mortgages Ltd. The sellers would not move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not to tell my lawyer about this deal as it could affect my loan with the lender. Is this normal?.
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 opted to have a survey carried out on a house in Dalston ahead of instructing solicitors. I have been informed that there is a flying freehold element to the house. The surveyor advised that some lenders will not grant a mortgage on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Dalston. Conveyancing may be slightly more expensive based on your lender's requirements.
Should I go with a Dalston conveyancing practitioner who is local to the property I am buying? An old friend can deal with the legal formalities but they are based a couple of hundredkilometers drive away.
The benefit of a high street Dalston conveyancing practice is that you can drop in to sign paperwork, present your identification documents and apply pressure on them if necessary. They will also have local knowledge which is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and they were impressed that must outweigh using an unfamiliar Dalston conveyancing solicitor just because they are local.
I today plan to offer on a house that appears to be perfect, at a great price which is making it all the more appealing. I have just discovered that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Dalston. Conveyancing solicitors have are soon to be appointed. Will they explain the issues?
The majority of houses in Dalston are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can assist with the conveyancing process. It is clear that you are buying in Dalston so you should seriously consider looking for a Dalston conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a service charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should report to you on the legal implications.
My wife and I have hit a brick wall in negotiating a lease extension in Dalston. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to decide the amount due.
An example of a Freehold Enfranchisement decision for a Dalston flat is 150 Amhurst Road in December 2013. The tribunal concluded that the premium to be paid by the applicant for the enfranchisement of the subject property was £43,500. This case related to 4 flats. The number of years remaining on the existing lease(s) was 90 (or thereabouts).
Our solicitor in Dalston has discovered a a legal deficiency with the lease for the apartment we are buying in Dalston. The seller’s lawyers have suggested defective title insurance as a solution. We are content with insurance and will pay for it. Our lawyer says that as he is on the mortgage company conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is the mortgage company?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the bank approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.