I am selling my apartment in Nine Elms. Does my conveyancer need to be required to be on the Co-operative conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Co-operative conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently at the moment.
Should our conveyancer be raising enquiries about flooding as part of the conveyancing in Nine Elms.
The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Nine Elms. Some people will acquire a property in Nine Elms, fully aware that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, but there are a number of checks that may be undertaken by the buyer or by their lawyers which can give them a better appreciation of the risks in Nine Elms. The conventional set of completed inquiry forms supplied to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to find out if the property has ever been flooded. In the event that the residence has been flooded in past which is not notified by the owner, then a buyer could bring a compensation claim as a result of such an incorrect answer. The buyer’s conveyancers should also carry out an environmental report. This should higlight whether there is any known flood risk. If so, more detailed investigations should be initiated.
The deeds to our home are lost. The lawyers who conducted the conveyancing in Nine Elms 4 years ago have long since closed. What do I do?
Gone are the days when you need to have the physical official documentation to prove you are the registered proprietor of land or premises, given that the Land Registry hold details of all registered land or property electronically.
I am buying my first flat in Nine Elms with a mortgage from Birmingham Midshires. The developers would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not inform my lawyer about the deal as it may adversely affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I own a leasehold house in Nine Elms. Conveyancing and Britannia mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Nine Elms who previously acted has long since retired. What should I do?
First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Nine Elms conveyancing lawyer to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I inherited a first floor flat in Nine Elms. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
Most definitely. We are happy to put you in touch with a Nine Elms conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Nine Elms property is 150A Albert Palace Mansions Lurline Gardens in July 2013. The Tribunal determined that the premium payable for the new lease of the subject property was £42,069 This case related to 1 flat. The unexpired residue of the current lease was 57.06 years.
Please set out some of compelling benefits to using a local lawyer in Nine Elms
Home movers in Nine Elms decide on using a nearby high street conveyancing practitioner so that they can visit just in case they have problems, and to deliver documents rather than run the risk of depending on the Royal Mail.
We would say that there is a marginal benefit when opting for a solicitor local to the property you are buying, due to the knowledge of the locality and potential local concerns - yet this is debatable. Many conveyancers are now through email and could be any place in the world.