Due to complete my purchase in Osterley next Thursday. My conveyancer now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the lender. What risks does the mortgage company expect the insurance to cover?
All property lawyers on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These obligations are not specific to conveyancing in Osterley.
Finally the sale completed on my house in Osterley last May but the buyer keeps e-mailing every few hours to moan that his conveyancer is waiting to hear from mine. What are the post completion sale legalities following completion?
Following your disposal your conveyancer should forward the transfer deeds and all supplemental paperwork to the buyer’s lawyers. Depending on the transaction, your solicitor should also evidence that the home loan has been discharged to the buyers solicitors. There are no post completion procedures just for conveyancing in Osterley.
My wife and I buying a victorian detached house in Osterley. We would like to carry out an extension to the side at the property.Will the conveyancing process include investigations to determine if these works are allowed?
Your property lawyer will review the registered title as conveyancing in Osterley can sometimes reveal restrictions in the title deeds which prevent categories of alterations or necessitated the permission of a 3rd party. Some additions require local authority planning permissions and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be prudent to check these issues with a surveyor before you commit yourself to a purchase.
The formalities of my remortgage has taken place for my property in Osterley. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I am due to exchange contracts on my house. I had a double glazing fitted in July 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Nationwide are being a right pain. The Osterley solicitor who is on the Nationwide conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Nationwide are requiring a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
We are selling our property in Osterley and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. Any local lawyer would know that there is no such problem. It does beg the question why the purchasers used an internet conveyancing firm rather than a conveyancing solicitor in Osterley. Having lived in Osterley for six years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to obtain clarification need.
It would appear that you have a conveyancing firm already. 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 health insurance to cover that same sickness)
About to purchase a new build apartment in Osterley. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Osterley
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
My wife and I have hit a brick wall in seeking a lease extension in Osterley. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a absentee landlord 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 LVT to assess the price payable.
An example of a Lease Extension matter before the tribunal for a Osterley residence is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case was in relation to 1 flat. The unexpired lease term was 60.45 years.
Are there frequently found problems that you come across in leases for Osterley properties?
Leasehold conveyancing in Osterley is not unique. All leases are drafted differently and drafting errors can result in certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
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Maintenance charge proportions which don’t add up to the correct percentage
You will encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Skipton Building Society, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.