My wife and I are soon to exchange buying a property in Maida Hill but as a consequence of damage from the recent storms I have was able negotiate compensation from the owner in the sum of three thousand pounds taking the form of a deduction in the price. I had intended this to be addressed as part of amending the contract but Lloyds will not agree to this. Should they have been notified?
Any lawyer that is on a Lloyds approved list is required to advise Lloyds of any amendments to the purchase price. If you were to refuse your conveyancing practitioner to disclose the reduction to Lloyds then they would have to discontinue acting for you. In addition, Lloyds and you would have to appoint a new conveyancer for your conveyancing in Maida Hill.
I am planning to acquire a house and need a conveyancing solicitor in Maida Hill who is on the Nottingham Building Society solicitor. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Nottingham Building Society in certain locations such as Maida Hill. We dont recommend any particular firm.
Will my lawyer be making enquiries regarding flooding as part of the conveyancing in Maida Hill.
Flooding is a growing risk for solicitors dealing with homes in Maida Hill. There are those who purchase a property in Maida Hill, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Lawyers are not qualified to offer advice on flood risk, however there are a numerous checks that can be initiated by the purchaser or by their conveyancers which can give them a better appreciation of the risks in Maida Hill. The standard property information forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the seller to find out whether the premises has historically flooded. In the event that the property has been flooded in past and is not disclosed by the owner, then a purchaser may commence a legal claim for losses resulting from an misleading response. A purchaser’s solicitors should also conduct an environmental search. This should indicate whether there is any known flood risk. If so, further investigations should be made.
I purchased a terraced Edwardian property in Maida Hill. Conveyancing lawyer represented me and Nationwide Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold with the exact same property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Maida Hill and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the position with the conveyancing lawyer who conducted the work.
The estate agent has sent us the confirmation of our purchase of a new build flat in Maida Hill. Conveyancing is daunting 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 legal work.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Maida Hill
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Can you offer any advice when it comes to choosing a Maida Hill conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for your lease extension (regardless if they are a Maida Hill conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with two or three firms including non Maida Hill conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
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What are the legal fees for lease extension conveyancing? Can they put you in touch with clients in Maida Hill who can give a testimonial?
I inherited a garden flat in Maida Hill. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum due for a lease extension?
if 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 Leasehold Valuation Tribunal to arrive at the price.
An example of a Lease Extension matter before the tribunal for a Maida Hill property is Flat 1 57 Oxford Gardens in January 2014. the Tribunal decided that the premium to be paidfor a new lease is £61,650.00. This case related to 1 flat. The number of years remaining on the existing lease(s) was 60 years.