I am purchasing my first flat in Holborn with the aid of help to buy. The sellers refused to budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not reveal to my lawyer about the deal as it may jeopardize my loan with the lender. Should I keep quiet?.
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've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Holborn is the location of the property. Is there any guidance you can impart?
Flying freeholds in Holborn are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Holborn you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Holborn 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 property.
How can the Landlord & Tenant Act 1954 impact my business offices in Holborn and how can you help?
The particular law that you refer to provides security of tenure to business lessees, granting the dueness to make a request to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and help with commercial conveyancing in Holborn
My husband and I are novice buyers - had an offer accepted, yet the agent informed us that the seller will only proceed if we instruct the agent's chosen conveyancers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a local conveyancer used to conveyancing in Holborn
It is highly unlikely the sellers are driving this. If they desire ‘a quick sale', alienating a serious buyer is counter productive. Contact the vendors directly and explain that (a)you are motivated purchasers (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you will continue to appoint your preferred Holborn conveyancing solicitors - not the ones that will provide the negotiator at the agency a introducer fee or achieve conveyancing targets pre-set by senior management.
Having checked my lease I have discovered that there are only 72 years remaining on my lease in Holborn. I now wish to get lease extension but my freeholder is missing. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have used your best endeavours to find the freeholder. In some cases a specialist should be helpful to conduct investigations and prepare an expert document to be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court covering Holborn.
I have tried to negotiate informally with with my landlord to extend my lease without any joy. Can I make an application to the Leasehold Valuation Tribunal? Can you recommend a Holborn conveyancing firm to represent me?
Absolutely. We can put you in touch with a Holborn conveyancing firm who can help.
An example of a Lease Extension case for a Holborn residence is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case affected 1 flat. The unexpired lease term was 66.8 years.
My fiance is buying a ground floor flat in Holborn. He was given a quote by the property lawyer suggested by the estate agents totaling £1385 . It was 7 years ago since I sold and bought a home and the bill was £495. Have charges really gone up that much?
You should visit a few local Holborn conveyancing solicitors seeking estimates. It is advisable to base your choice not just on cost, but on promptness and on how comprehensive the response is.