We are intending to acquire a 1 bedroom apartment in Maida Hill with a mortgage. We have a Maida Hill solicitor, however the lender says he's not on their "panel". It appears that we have no option but to select one of the mortgage company panel firms or continue with our Maida Hill solicitor as well as pay for one of their panel ones to represent them. We regard this is inequitable; are we not able to require that the bank use our Maida Hill conveyancing practitioner ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Maida Hill conveyancing lawyer to apply to be on the conveyancing panel.
My partner and I have lately bought a property in Maida Hill. We have since encountered a number of problems with the property which we suspect were missed in the conveyancing searches. What action can we take? Can you clarify the type of searches that needed to have been carried out for conveyancing in Maida Hill?
The question is vague as what problems have arisen and if they are unique to conveyancing in Maida Hill. Conveyancing searches and investigations initiated as part of the buying process are designed to help avoid problems. As part of the legal transfer of property, the vendor fills in a questionnaire known as a Seller’s Property Information Form. answers is inaccurate, you could possibly take legal action against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Maida Hill.
I purchased a freehold house in Maida Hill yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Maida Hill and has limited impact for conveyancing in Maida Hill but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I require expedited conveyancing in Maida Hill as I am under an ultimatum to exchange contracts in less than one month. Fortunately I do not require a mortgage. Can I escape the need for conveyancing searches to save fees and time?
If.Given you are are a mortgage free buyer you have the choice not to do searches although no solicitor would suggest that you don't. With lots of history conveyancing in Maida Hill the following are examples of issues that can crop up and adversely impact the marketability of the property: Refused Planning Applications, Overdue Fees, Outstanding Grants, Railway Schemes,...
About to purchase a new build apartment in Maida Hill. Conveyancing is a frightening process 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 are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Maida Hill
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants. 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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I have been on the look out for a leasehold apartment up to £235,500 and identified one near me in Maida Hill I like with amenity areas and station in the vicinity, the downside is that it only has 61 years on the lease. There is not much else in Maida Hill for this price, so just wondered if I would be making a grave error buying a short lease?
Should you need a mortgage the shortness of the lease may be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.