The Norwood Green conveyancing firm handling our Norwood Green conveyancing has identified a difference between the assumptions in the valuation survey and what is revealed within the title deeds. My solicitor says that he is obliged to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my lawyer’s stance legitimate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I am the registered owner of a freehold property in Norwood Green but still charged rent, why is this and what is this?
It is rare for properties in Norwood Green and has limited impact for conveyancing in Norwood Green but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
I am purchasing a new build house in Norwood Green benefiting from help to buy. The developers would not budge the amount so I negotiated five thousand pounds worth of extras instead. The property agent told me not inform my solicitor about the extras as it could jeopardize my loan with the bank. 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 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.
My father-in-law has recommend that I use his lawyers for conveyancing in Norwood Green. Should I find my own property lawyer?
No doubt the ideal way to choose a conveyancing lawyer is to get recommendations from friends or relatives who have previously instructed the firm that you are are thinking of instructing.
What are your top tips when it comes to appointing a Norwood Green conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Norwood Green conveyancing practice) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Norwood Green conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be helpful:
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Can they put you in touch with clients in Norwood Green who can give a testimonial? What are the charges for lease extension conveyancing?
I am the leaseholder of a basement flat in Norwood Green. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount due for a lease extension?
if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to judgment on the sum to be paid.
An example of a Freehold Enfranchisement decision for a Norwood Green residence is 6 Jessamine Road in August 2013. The Tribunals valuation (as annexed to the decision) calculated the amount payable as £18,355 for the freehold reversion This case related to 2 flats. The remaining number of years on the lease was 72.39 years.
I happen to be an executor of my recently deceased aunt’s Will, with a house in Norwood Green which will be marketed. The house has never been registered at the Land Registry and I'm told that many EAs will insist that it is completed before they will move forward. What's the procedure for this?
In the circumstances you refer to it seems prudent to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.