My husband and I are acquiring a newly built duplex in Lower Clapton and my conveyancer is informing me that she has to the lender to reveal incentives from the builder. I am under pressure to exchange contracts and I have no desire to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Should our solicitor be raising enquiries regarding flooding as part of the conveyancing in Lower Clapton.
Flooding is a growing risk for conveyancers dealing with homes in Lower Clapton. There are those who acquire a house in Lower Clapton, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, however there are a number of searches that may be undertaken by the purchaser or by their conveyancers which should figure out the risks in Lower Clapton. The conventional set of completed inquiry forms supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the vendor to determine whether the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the seller, then a purchaser may issue a compensation claim stemming from an misleading answer. The purchaser’s solicitors may also order an enviro report. This should indicate whether there is a recorded flood risk. If so, further inquiries will need to be made.
Have completed on a a semi-detached house in Lower Clapton , What is the estimated time for the Land Registry to deal with the formalities evidencing my title? My Lower Clapton conveyancing solicitor works at snail pace, so I want to check the registration is dealt with.
As far as conveyancing in Lower Clapton registration is no quicker or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timescales can differ according to the party submitting the application, whether there are errors and if the Land registry communicate with any interested persons or bodies. Currently approximately 80% of such applications are completed in less than three weeks but some can be subject to protracted delays. Historically registration is effected once the purchaser is living at the premises so registration formalities is not usually top priority yet where it is urgent that the the registration takes place urgently then you or your lawyers should speak with the land registry and explain the circumstances.
The estate agent has sent us the confirmation of our purchase of a new build flat in Lower Clapton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Lower Clapton
-
Please supply a car parking plan. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
We're new to the buying process - agreed a price, yet the agent informed us that the vendor will only proceed if we use their preferred lawyers as they want an ‘expedited deal’. We would rather use a high street solicitor with experience of conveyancing in Lower Clapton
It is improbable the sellers are behind this. If they desire ‘a quick sale', turning down a genuine purchaser is likely to cause more damage than good. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are ready to go, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)but you intend to use your own,trusted Lower Clapton conveyancing lawyers - as opposed tothe ones that will provide their estate agent a introducer fee or hit his conveyancing figures set by senior management.
I have recently realised that I have Fifty years left on my flat in Lower Clapton. I now wish to extend my lease but my landlord is missing. What options are available to me?
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. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the lessor. In some cases a specialist should be helpful to carry out a search and to produce a report to be used as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on devolving into the landlord’s disappearance and the application to the County Court overseeing Lower Clapton.
I own a basement flat in Lower Clapton. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the amount payable for the purchase of the freehold?
in cases where there is a absentee landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to calculate the price.
An example of a Freehold Enfranchisement case for a Lower Clapton 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 related to 10 flats. The number of years remaining on the existing lease(s) was 71.25 years.