My wife and I are approaching an exchange on a flat in Monken Hadley and my parents have transferred the 10% deposit to my property lawyer. I am now informed that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my lender. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I disclosed to the lender about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
Your solicitor is legally required to clarify with the bank to ensure that they are aware that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
We note that you have a search directory listing law firms on the TSB conveyancing panel. Do firms pay you a commission if I instruct them for our conveyancing in Monken Hadley?
We are a listing service only for law firms wishing to communicate if they are on the TSB conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Monken Hadley.
Do commercial conveyancing searches disclose proposed roadworks that could affect a commercial estate in Monken Hadley?
Many commercial conveyancing solicitors in Monken Hadley will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Monken Hadley. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Monken Hadley.
For each commercial conveyancing transaction in Monken Hadley it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Monken Hadley commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in Monken Hadley.
I used Stirling Law several years past for my conveyancing in Monken Hadley. Now, I need my documents however the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Monken Hadley of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Monken Hadley is where the house is located. Can you shed any light on this issue?
Flying freeholds in Monken Hadley are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Monken Hadley you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Monken Hadley may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Do you have any advice for leasehold conveyancing in Monken Hadley from the perspective of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Monken Hadley can be reduced where you instruct lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the buyers’ conveyancers. In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Monken Hadley leases often stipulate that internal structural changes or installing wooden flooring necessitate a licence issued by the Landlord consenting to such changes. Where you fail to have the paperwork in place do not contact the landlord without contacting your conveyancer in advance. If you have had conflict with your landlord or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to reveal the dispute as over rather than unsettled. You may think that you are aware of the number of years remaining on your lease but you should double-check via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. If you are supposed to have a share in the freehold, you should make sure that you have the original share certificate. Obtaining a re-issued share certificate can be a time consuming process and frustrates many a Monken Hadley conveyancing deal. Where a new share certificate is needed, do contact the company officers or managing agents (where applicable) for this at the earliest opportunity.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can the Leasehold Valuation Tribunal decide on such issues? Can you recommend a Monken Hadley conveyancing firm to assist?
You certainly can. We can put you in touch with a Monken Hadley conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Monken Hadley property is Flat 2 2 Netherfield Road in April 2010. The Tribunale held that premium payable for a 90 year extension to the existing Lease should be £7,705. This case related to 1 flat. The remaining number of years on the lease was 76 years.