Having sold my house in Hadley Wood last December but my buyer keeps whats apping me complaining that his lawyer is waiting to hear from mine. What are the post completion sale legalities now that I have sold?
Post completion of your sale your solicitor should forward the transfer deeds and all supplemental paperwork to the buyer’s solicitors. Where relevant, your lawyer should also send confirmation that the legal charge in favour of the lender has been redeemed to the purchasers solicitors. There is unlikely to be post completion formalities peculiar conveyancing in Hadley Wood.
What happens if my solicitor is expelled from the Co-operative Conveyancing panel ahead of completing my conveyancing in Hadley Wood?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
My wife and I have a 4 bedroom Victorian property in Hadley Wood. Conveyancing solicitor represented me and TSB. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold with the matching address. Is it worth asking TSB to clarify?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hadley Wood and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with your conveyancing practitioner who conducted the conveyancing.
I'm purchasing a new build house in Hadley Wood with the aid of help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not disclose to my lawyer about this side-deal as it would jeopardize 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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Hadley Wood is where the house is located. Is there any advice you can impart?
Flying freeholds in Hadley Wood are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hadley Wood you would need to get your solicitor to go 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 Hadley Wood may decide 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 work for a reputable estate agent office in Hadley Wood where we have experienced a few leasehold sales derailed as a result of short leases. I have received contradictory information from local Hadley Wood conveyancing solicitors. Could you shed some light as to whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can a leaseholder apply to the Leasehold Valuation Tribunal? Can you recommend a Hadley Wood conveyancing firm to help?
Most definitely. We are happy to put you in touch with a Hadley Wood conveyancing firm who can help.
An example of a Lease Extension case for a Hadley Wood premises is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case was in relation to 1 flat. The remaining number of years on the lease was 76 years.