We are buying a new build apartment in Isle of Dogs and my conveyancer is advising me that she is duty bound to the mortgage company to disclose incentives from the developer. I am on a tight deadline to sign contracts and I would rather not prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
What is the first thing I need to know concerning purchase conveyancing in Isle of Dogs?
You may not hear this from too many lawyers but conveyancing in Isle of Dogs and elsewhere in England and Wales is an adversarial process. Put another way, when it comes to conveyancing there exists plenty of room for friction between you and others involved in the legal transfer of property. E.g., the seller, selling agent and even potentially the bank. Selecting a solicitor for your conveyancing in Isle of Dogs should not be taken lightly as your conveyancer is your adviser, and is the SOLE party in the transaction whose interest is to look after your legal interests and to keep you safe.
There is a definite ongoing adversarial element to conveyancing- someone has to be blamed for the process being so protracted. You must always trust your solicitor ahead of the other parties when it comes to the legal transfer of property.
Can you help - my lawyer advises that defective lease insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Isle of Dogs?
The appropriate level of defective lease indemnity insurance depends on who your lender is. It would differ for example between Birmingham Midshires and Barnsley Building Society. Conveyancing lawyers as opposed to members of the public take out such insurances.
Can you point me to a directory of Nationwide panel solicitors in Isle of Dogs on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. Very few lending institutions make their panel listings viewable over the internet. Where you are seeking to appoint a Isle of Dogs property lawyer on the Nationwide please use our tool.
I am selling my flat. I had a double glazing fitted in April 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Coventry BS are being a right pain. The Isle of Dogs solicitor who is on the Coventry BS conveyancing panel is saying indemnity insurance will be fine but Coventry BS are insisting on a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have todayfound out that Arc property Solicitors have closed. They conducted my conveyancing in Isle of Dogs for a purchase of a leasehold flat 18 months ago. How can I establish that my home is not still registered in the name of the previous owner?
The easiest method to see if the premises is registered to you, you can carry out 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 Isle of Dogs conveyancing specialists.
I opted to have a survey carried out on a property in Isle of Dogs ahead of appointing lawyers. I have been advised that there is a flying freehold element to the property. My surveyor has said that some mortgage companies tend refuse to grant a loan on this type of home.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Isle of Dogs. Conveyancing may be slightly more expensive based on your lender's requirements.
I've found a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Isle of Dogs. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Isle of Dogs ?
Most houses in Isle of Dogs are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Isle of Dogs so you should seriously consider looking for a Isle of Dogs conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer will advise you fully on all the issues.
Following months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Isle of Dogs. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Isle of Dogs conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Isle of Dogs premises is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The unexpired term was 101.61 years.