My husband and I are buying a new build flat in Rise Park and my solicitor is telling me that she has to the bank to disclose incentives from the developer. I am on a tight deadline to sign contracts and I don't want to delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. 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 have a mortgage agreed in principle with Santander. Rise Park conveyancing practitioners were appointed. How long does it take for Santander to forward the offer to the conveyancer?
There is no definitive answer here. Have Santander conducted the valuation? Have you advised Santander as to your lawyers' details and checked that your lawyers are on the Santander conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I can not fathom if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Rise Park building society branch on a couple of occasions and was told it wasn't an issue and they will lend. My Rise Park conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend in accordance with their specific requirements. Who do I believe?
The lawyer has to comply with the Council of Mortgage Lenders’ Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am due to exchange contracts on my apartment. I had a double glazing fitted in August 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, UBS are being difficult. The Rise Park solicitor who is on the UBS conveyancing panel is saying indemnity insurance will be fine but UBS are requiring a building regulation certificate. Why do UBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that UBS have referred the matter to their valuer. The reason why UBS 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.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one close by in Rise Park I like with open areas and station nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in Rise Park suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a home loan the remaining unexpired lease term may be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
My husband and I are first time buyers - had an offer accepted, but the property agent advised that the owners will only move forward if we use the agent's preferred lawyers as they want a ‘quick sale’. Our preferred option is to instruct a high street solicitor with experience of conveyancing in Rise Park
We suspect that the owner is unaware of this request. Should the seller require ‘a quick sale', turning down a genuine purchaser is is going to put the whole deal at risk. Speak to the vendors direct and make sure they comprehend that (a)you are motivated purchasers (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you intend to use your preferred Rise Park conveyancing lawyers - not the ones that will earn the negotiator at the agency a referral fee or achieve conveyancing targets set by HQ.
Back In 2001, I bought a leasehold house in Rise Park. Conveyancing and The Royal Bank of Scotland mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Rise Park who previously acted has now retired. Any advice?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Rise Park conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Rise Park conveyancing firm to help?
if there is a missing freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to determine the amount due.
An example of a Lease Extension matter before the tribunal for a Rise Park property is Flat b 14 Kemble Road in May 2014. The Tribunal assessed the value of the premium payable for the lease extension to be £9,761 This case affected 1 flat.
My wife and I hope to acquire our 1st house in Rise Park. Conveyancing solicitor already selected. The financial consultant advised that a survey is not necessary as the house was only constructed twenty two years ago.
As the bare minimum you need a Home Buyer's Report. As the premises was built over a decade ago the property will not come with a warranty, so you don't want to take a risk. Where a property of this age shows no signs of defects a Home Buyer's report may be enough. The report should highlight any apparent issues and recommend additional investigation where appropriate. Where there are any indications of material issues seek a full structural survey.