I am acquiring a newly built flat in East Twickenham and my solicitor is informing me that she has to the lender to disclose incentives from the developer. I am on a tight deadline to exchange contracts and my preference is not to delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. 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 bought my flat on 12 August and my personal details is yet to be registered. Need I be worried? My conveyancing solicitor in East Twickenham said it will be formalised in a couple of weeks. Are properties in East Twickenham particularly slow to register?
There is nothing unique about conveyancing in East Twickenham registration formalities. Rather than based on location, timeframes can differ depending on the party submitting the application, whether there are errors and whether the Land registry communicate with any third persons or bodies. As of today approximately three quarters of such applications are completed within 12 days but occasionally there can be protracted hold-ups. Historically registration occurs after the purchaser has moved in to the premises thus registration formalities is not typically an essential issue but if there is a degree of urgency associated with the registration then you or your lawyers should communicate with the Registry to express the reasoning for an expedited registration.
I am buying a new build apartment in East Twickenham. Conveyancing is a frightening process 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 conveyancing.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in East Twickenham
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There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. 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? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Due to the guidance of my in-laws I had a survey completed on a house in East Twickenham prior to retaining solicitors. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some lenders tend refuse to issue a loan on such a premises.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in East Twickenham. Conveyancing may be slightly more expensive based on your lender's requirements.
I've recently bought a leasehold property in East Twickenham. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a East Twickenham conveyancing firm to represent me?
You certainly can. We are happy to put you in touch with a East Twickenham conveyancing firm who can help.
An example of a Lease Extension case for a East Twickenham property is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case was in relation to 1 flat. The unexpired lease term was 60.45 years.
Why can I not complete our conveyancing in East Twickenham on May bank holiday?
This is due to the fact that on completion the funds will pass between the banks of the buyer and owner’s solicitor and currently this can only take place on a business day. So you can't complete on a saturday or sunday either.