My wife and I have recently bought a house in Northwick Park. We have since encountered a number of issues with the house which we believe were missed in the conveyancing searches. Do we have any recourse? Can you clarify the nature of searches that should have been carried out for conveyancing in Northwick Park?
It is not clear from the question as what problems have arisen and if they are specific to conveyancing in Northwick Park. Conveyancing searches and due diligence initiated as part of the buying process are carried out to help avoid problems. As part of the legal transfer of property, the vendor completes a document known as a Seller’s Property Information Form. If the information ends up being inaccurate, you may have a misrepresentation claim 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 Northwick Park.
We are intent on selling our home in Northwick Park and according to the buyers it appears that there is a risk of it being built on contaminated land. Any local conveyancer would know this is not the case. It does beg the question why the purchasers instructed a nationwide conveyancing firm rather than a conveyancing solicitor in Northwick Park. We have lived in Northwick Park for three years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to get clarification that the buyers are looking for.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Are there restrictive covenants that are commonly identified as part of conveyancing in Northwick Park?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Northwick Park. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying a new build house in Northwick Park with a loan from Britannia. The sellers would not move on the price so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not reveal to my solicitor about this extras as it may impact my loan with Britannia. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance 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.
Do you have any top tips for leasehold conveyancing in Northwick Park with the purpose of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Northwick Park can be reduced if you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers’ representatives. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A buyer’s lawyer will not be happy to advise their client to where the remaining number of years is under 75 years. It is therefore important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. If there is a history of conflict with your landlord or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is an ongoing dispute. You may need to swallow your pride and pay 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 details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to unsettled. The majority of landlords or Management Companies in Northwick Park levy fees for providing management packs for a leasehold property. You or your lawyers should find out the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Northwick Park. If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share document. Organising a new share certificate can be a time consuming formality and delays many a Northwick Park home move. Where a duplicate share certificate is needed, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.
I have given up trying to purchase the freehold in Northwick Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing freeholder or if there is disagreement 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 First-tier Tribunal (Property Chamber) to assess the price payable.
An example of a Lease Extension matter before the tribunal for a Northwick Park flat is Ground Floor Flat 17 Frognal Avenue in April 2012. the Tribunal agreed that a value of £160,000 for the extended lease was appropriate. This case related to 1 flat. The unexpired term was 61.66 years.
I am soon to complete buying a house in Northwick Park but as a result of damage from the recent storms I have negotiated recompense from the owner of four thousand pounds by way of a reduction in the price. I had intended this to be dealt with as part of the conveyancing process however the lender will not permit this. Should they have been involved?
Any lawyer being on the bank approved list is required to inform the lender of any changes to the purchase figure. In the event that you were to refuse your lawyer to report the reduction to your lender then they would have to disinstructing themselves from acting for you and the bank.