I have justbeen informed that Wolstenholmes have closed. They carried out my conveyancing in Hackney Wick for a purchase of a leasehold apartment 18 months ago. How can I check that my home is registered correctly in the name of the former proprietor?
The easiest method to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Hackney Wick conveyancing specialists.
I'm purchasing a new build house in Hackney Wick with a mortgage from Alliance & Leicester . The builders refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not to tell my solicitor about this side-deal as it could adversely affect my mortgage 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 have been on the look out for a flat up to £305k and identified one round the corner in Hackney Wick I like with open areas and railway links nearby, the downside is that it's only got 61 years on the lease. There is not much else in Hackney Wick suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage the shortness of the lease will be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
I am four weeks into a leasehold purchase having been referred to a firm by the selling agent to execute conveyancing in Hackney Wick. I am am starting to be dissatisfied with the quality of service. Could you help me find new solicitors?
They would need to be really bad to suggest changing them. Has the loan offer been generated? In the event that it has you need to inform them of the new conveyancer and ensure the mortgage documents are issued to the new lawyers. The conveyancer needs to be on the lenders panel to avoid added costs and delays. That should be your first question of the new solicitors. The search tool will assist you in finding a bank approved solicitor for your home move in Hackney Wick
I've recently bought a leasehold house in Hackney Wick. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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 to extend my lease without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Hackney Wick conveyancing firm to assist?
in cases where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to arrive at the sum to be paid.
An example of a Freehold Enfranchisement decision for a Hackney Wick property is 12 Nutfield Road in July 2014. the Tribunal judged that the price to be paid by the applicants for the freehold interest should be £19,572 This case was in relation to 2 flats. The unexpired lease term was 72.02 years.
My partner and I plan to purchase our 1st home in Hackney Wick. Conveyancing lawyer already selected. The financial consultant advised that a survey is not necessary as the house was only built in 1997.
At the very least you should have a Home Buyer's Report. Given the residence is more than ten years old the property will not come with a warranty, so you would be well advised not to take a risk. Where a property of this age shows no signs of problems a Home Buyer's report could suffice. The report should highlight any obvious issues and recommend additional investigation if appropriate. Where there are any signs of material issues obtain a full Building Survey from the beginning.