My mortgage broker has asked me for my Perivale lawyer’ panel member for the Lloyds conveyancing panel. How do I find this out. I have contacted my local Perivale branch but they don't know it.
Have you tried speaking to your Perivale property lawyer about this?. Most Perivale conveyancing practices will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each lender.
Me and my brother own a semi-detached Georgian property in Perivale. Conveyancing solicitor represented me and Yorkshire Building Society. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold under the exact same property. Is it worth asking Yorkshire Building Society to clarify?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Perivale and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing solicitor who conducted the purchase.
Just had an offer accepted on a new build flat in Perivale. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Perivale
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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. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
I opted to have a survey done on a house in Perivale in advance of instructing solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some banks will refuse to give a mortgage on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Perivale. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Perivale to see if the conveyancing costs will increase in light of this.
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I am attracted to a two flats in Perivale which have approximately forty five years unexpired on the leases. Will this present a problem?
There are no two ways about it. A leasehold flat in Perivale is a deteriorating asset as a result of the reducing lease term. The nearer the lease gets to zero years unexpired, the more it reduces the salability of the property. The majority of buyers and banks, leases with less than 75 years become less and less marketable. 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 premises 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 a property 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 Perivale 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. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed 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.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal decide on such matters? Can you recommend a Perivale conveyancing firm to help?
in cases where there is a missing landlord or where 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 LVT to arrive at the price payable.
An example of a Lease Extension matter before the tribunal for a Perivale property is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case was in relation to 1 flat. The remaining number of years on the lease was 74 years.