My husband and I are purchasing a newly constructed flat in Petts Wood and my conveyancer is informing me that she has to the lender to reveal incentives from the developer. I am on a tight deadline to sign contracts and I have no desire to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
We see that you have a search directory listing law firms on the Aldermore conveyancing panel. Do firms pay you a referral fee if I instruct them for our own conveyancing in Petts Wood?
We are a listing service only for law firms wishing to communicate if they are on the Aldermore conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Petts Wood.
Do the Building Society Association intend to launch a online directory to to identify firms on the Coventry BS conveyancing panel for instance in Petts Wood?
We would not expect to be advised of any plans on the part of the BSA to promote such a tool.
I completed on my apartment on 2 September and the transaction details is yet to be on the land registry website. Any reason for this? My conveyancing solicitor in Petts Wood advises it should be registered in a couple of weeks. Are properties in Petts Wood uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Petts Wood registration formalities. As opposed to being determined by geographic area, timescales can vary depending on the party submitting the application, whether there are errors and if the Land registry must send notices to any 3rd persons or bodies. At present approximately 80% of submission are fully addressed within two weeks but occasionally there can be protracted hold-ups. Registration is effected once the new owner is living at the property so 'speed' is not typically primary concern yet if there is a degree of urgency associated with the registration then you or your solicitor should contact the land registry and explain the circumstances.
I opted to have a survey carried out on a property in Petts Wood prior to instructing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies tend not issue a mortgage on this type of home.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Petts Wood. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Petts Wood to see if the conveyancing will be more expensive.
I’m about to sell my garden apartment in Petts Wood. Conveyancing solicitors are to be appointed soon, however I have just had a half-yearly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as you normally would as all ground rent and maintenance payments should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Following months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Petts Wood. Can we issue an application to the Residential Property Tribunal Service?
if there is a missing landlord or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the LVT to make a decision on the premium.
An example of a Lease Extension matter before the tribunal for a Petts Wood property is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case related to 1 flat. The unexpired term as at the valuation date was 50.57 years.