Will our conveyancer be raising questions about flooding as part of the conveyancing in Old Oak Common.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Old Oak Common. Some people will acquire a property in Old Oak Common, completely expectant that at some time, it may suffer from flooding. 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 sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, however there are a numerous searches that may be carried out by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Old Oak Common. The standard information supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the owner to discover if the premises has ever been flooded. In the event that the premises has been flooded in past which is not disclosed by the seller, then a purchaser may issue a legal claim for losses as a result of such an incorrect response. A buyer’s lawyers will also carry out an environmental search. This should higlight whether there is a recorded flood risk. If so, more detailed inquiries will need to be made.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The lawyers who dealt with the conveyancing in Old Oak Common 10 years ago are no longer around. Will I be able to sell the house?
Gone are the days when you need to have the physical original deeds to evidence that you own the land or property, given that the Land Registry have everything they need in a digital format.
I am buying a new build house in Old Oak Common with the aid of help to buy. The builders refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The property agent told me not disclose to my lawyer about this deal as it will impact my mortgage with the lender. Do I keep my lawyer in the dark?.
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.
What makes your site different to other internet conveyancing brokers for conveyancing in Old Oak Common?
At this site secure a fixed fee quote via a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Old Oak Common. As opposed to estate agents and many comparison sites we do not have kick-back arrangements with solicitors. Many agents and online brokers 'recommend' solicitors who pay the most kickback, rather than the best value conveyancing in Old Oak Common
My father-in-law has recommend that I appoint his conveyancing solicitors in Old Oak Common. Should I use them?
There are no two ways about it the ideal way to choose a conveyancing solicitor is to have referrals from friends or family who have previously instructed the conveyancer you're are thinking of instructing.
I am tempted by the attractive purchase price for a couple of flats in Old Oak Common which have about 50 years left on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in Old Oak Common is a deteriorating asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the salability of the property. The majority of buyers and mortgage companies, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Old Oak Common conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Following months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Old Oak Common. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We can put you in touch with a Old Oak Common conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Old Oak Common residence is 49 Long Drive in March 2014. The tribunal concluded that the price payable for the freehold interest in the Property should be £26,491 divided as to £12,546 in respect of the ground floor flat and £13,945 in respect of the first floor flat This case affected 2 flats. The unexpired residue of the current lease was 68.47 years.