I am getting closer to an exchange on a property in Homerton and my mum and dad have sent the 10% deposit to my lawyer. I am now informed that as the deposit has not arrived from me my property lawyer needs to disclose this to my bank. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I advised the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to delay the deal?
Your lawyer is legally required to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
Why is leasehold purchase conveyancing in Homerton is more expensive?
In summary, leasehold conveyancing in Homerton and elsewhere usually necessitates additional due diligence compared to freehold conveyancing. This includes analysing the lease terms, liaising with the landlord about the service of required notices, securing current service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
What is the optimum way to discover of the solicitor carrying out my conveyancing in Homerton is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for The Mortgage Works thus paying £192.00 in further conveyancing fees.
You should take advantage of the find a lender approved solicitor tool on this page. Pick the lender and type ‘Homerton’ or your location and you will be presented with a number of lawyer offices in Homerton or by proximity to you.
I completed on my flat on 11 March and the transaction details is not yet registered. Should I be concerned? My conveyancing solicitor in Homerton said it should be recorded in a couple of weeks. Are properties in Homerton uniquely lengthy to register?
There is nothing unique about conveyancing in Homerton registration formalities. Rather than based on location, timescales can vary subject to who lodges the application, whether there are errors and if the Land registry communicate with any other parties. At present in the region of 80% of submission are fully addressed within 12 days but occasionally there can be longer hold-ups. Registration is effected after the purchaser has moved in to the property thus 'speed' is not always top priority but if it is urgent that the the registration takes place urgently then you or your conveyancer could communicate with the Registry to express the reasoning for the application to be prioritised.
In what way can the Landlord & Tenant Act 1954 impact my business property in Homerton and how can you help?
The 1954 Act affords protection to commercial tenants, granting the legal entitlement to apply to court for a continuation of occupancy at the end of an expired lease. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Homerton is one of the numerous areas of the UK in which the firms we work with are based
I have just started marketing my 2 bed apartment in Homerton. Conveyancing solicitors are to be appointed soon, but I have just had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you discharge the service charge as normal because all ground rent and maintenance payments should be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Following years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Homerton. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing landlord or where there is dispute 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 assess the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Homerton premises is 104 Nightingale Road in May 2009. The Tribunal's Decision is that the premium torbe paid for the enfranchisement in this case is £112,174 This case affected 10 flats. The remaining number of years on the lease was 71.25 years.