My partner and I are purchasing a ground floor flat in Millbank. My property lawyer is not on the lender solicitor list. Am I still permitted to continue with my Millbank conveyancing solicitor even though they are not on the bank panel?
One must use a conveyancer to complete the formalities if you take out a mortgage to buy your property. They will carry out all the appropriate legal checks on the property, ensuring that you will be properly registered as the owner and ensure that all the necessary mortgage paperwork is dealt with. One could appoint a Millbank property lawyer of your choice. Nevertheless, where the lawyer selected is not a member of the lender solicitor panel further costs will be incurred as separate legal representation will be need by the bank. Bank panel applications may be submitted, so provided your lawyer has not previously applied for membership they should take the chance to apply.
My colleague advised me that where I am purchasing in Millbank I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Millbank conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Millbank around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data concerning Millbank.
I purchased a 4 bedroom Georgian property in Millbank. Conveyancing lawyer acted for me and Halifax. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold with the exact same property. I thought I was buying a freehold how can I check?
You should read 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Millbank and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing practitioner who conducted the conveyancing.
Just had an offer accepted on a new build apartment in Millbank. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Millbank
-
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are architect prepared.
I’m about to sell my basement flat in Millbank. Conveyancing has not commenced, however I have recently had a yearly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the maintenance contribution as normal because all rents and maintenance payments will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.
Having spent months of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Millbank. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a absentee freeholder or if there is dispute 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 judgment on the price payable.
An example of a Lease Extension case for a Millbank premises is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case was in relation to 2 flats. The unexpired term was 56 years.
Do I stop the direct debit for my mortgage with Leeds Building Society as soon as a completion date for my home sale in Millbank has been set?
You would be well advised to continue meeting any mortgage sums to Leeds Building Society until the mortgage is paid off on completion as part of your Millbank conveyancing.