My god-son is purchasing a new build apartment in East London with a mortgage from Co-operative. His conveyancer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Co-operative conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Co-operative conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My house in East London is up for sale and I have accepted an offer. Will my solicitor have to be required to be on the Kent Reliance conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Kent Reliance conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
Me and my partner are purchasing a house in East London. I might seem paranoid but how we can trust a lawyer? On the day of competition we will need to put our life savings into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Have just purchased a repossessed house at auction in East London. Conveyancing is necessary. What happens now?
Having to in every practical sense signed on the dotted line you must find a conveyancing practitioner as a matter of urgency as you now have a tight a fixed date to complete the deal. Every auction property should have an associated legal pack. This will include evidence of title and search results. In the case of leasehold premises the legal papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You must hand this to your appointed conveyancing solicitor as soon as possible. Do make sure that you have funds in place to complete on the date specified in the contract.
We are purchasing a end of terrace house in East London. We would like to carry out a loft conversion at the property.Will the conveyancing process involve enquiries to see if these works are permitted?
Your property lawyer will review the registered title as conveyancing in East London will occasionally reveal restrictions in the title deeds which prevent certain alterations or need the permission of a 3rd party. Some extensions need local authority planning permissions and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be prudent to check these issues with a surveyor ahead of any purchase.
What does a local search tell me about the property my wife and I purchasing in East London?
East London conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company such as Onsearch The local search is essential in every East London conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search should provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, no chain conveyancing. East London is the location of the property. Can you shed any light on this issue?
Flying freeholds in East London are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside East London you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in East London may ascertain 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’m about to sell my ground floor flat in East London. Conveyancing has not commenced, but I have recently had a half-yearly service charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as normal given that all rents and service charges will be apportioned on completion, so you should recover the relevant percentage 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. This will smooth the conveyancing process.
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a East London conveyancing firm to assist?
Absolutely. We can put you in touch with a East London conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a East London flat is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case affected 1 flat. The unexpired lease term was 73.26 years.