I am not in a position to travel far from Harrow Weald. Can you please explain the reason why all Harrow Weald solicitors aren't automatically on all bank panels?
Before the recession most banks displayed an attitude to risk which is different than today. The Financial Services Authority in 2010 instigated a thematic review into property fraud which concluded: know the conveyancing practitioners on your panel. Consequently, lenders have since soughtmore information from law firms concerning their processes and the individuals who work for them and set certain criteria such as completing a minimum amount of transactions. Hundreds of law practices have found themselves excluded from lender panels even though they had 100% healthy disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the mortgage companies set.
The deeds to our property are lost. The conveyancers who handled the conveyancing in Harrow Weald 10 years ago are no longer around. Will I be able to sell the house?
You no longer need to have the physical deeds to evidence that you are the owner of your registered land or premises, as the Land Registry have everything they need in a digital format.
About to purchase a new build apartment in Harrow Weald. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Harrow Weald
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Forfeiture - bankruptcy or liquidation must not apply under this provision. 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 control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are architect prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Harrow Weald is the location of the property. Is there any advice you can give?
Flying freeholds in Harrow Weald are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Harrow Weald you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Harrow Weald may determine 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 premises.
I'm converting the mortgage on my current home to a buy to let loan with Skipton Building Society and I will use the rest of the raised equity as a down payment on a second property. The location we are interested in is Harrow Weald. Will your solicitors be able to act for the two lenders and tie in the conveyances?
Do use our search tool on this site to ensure that the conveyancers are approved by both banks. On the basis that they are the solicitor will be able to connect the two conveyancing matters but you should talk with you conveyancer and specify your expectations and requirements.
I am tempted by the attractive purchase price for a couple of maisonettes in Harrow Weald both have in the region of 50 years unexpired on the lease term. Will this present a problem?
There are plenty of short leases in Harrow Weald. The lease is a right to use the premises for a prescribed time frame. As the lease shortens the value of the lease reduces and results in it becoming more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. More often than not it is difficulties arise selling premises with a short lease as mortgage lenders may be reluctant to lend money on such properties. Lease extension can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this arena.
I inherited a ground-floor 1960’s flat in Harrow Weald. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
You certainly can. We can put you in touch with a Harrow Weald conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Harrow Weald property is flat 93b Welldon Crescent in May 2009. The Tribunals valuation for a 90-year lease extension of this fat was £13,171 This case affected 1 flat. The unexpired residue of the current lease was 75.25 years.