Our conveyancer has discovered a defect with the lease for the apartment we are purchasing in Romford. The other side have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our property lawyer has advised that he must check that the bank is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the lender does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the mortgage company are the client. These conveyancing instructions must be adhered to.
The Romford conveyancing firm that I recently instructed on my house acquisition in Romford have without warning shut down. I chose them because I had to have a lawyer on the Santander conveyancing panel and my previous Romford lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What should be my next steps?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Santander conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
What does a local search reveal concerning the house my wife and I purchasing in Romford?
Romford conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations for example Xpress Legal The local search is essential in every Romford conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your new home. The search should provide data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
Just had an offer accepted on a new build flat in Romford. Conveyancing is daunting 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 conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Romford
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Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. 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.
I have been sourcing a conveyancing practitioner in Romford for my sale. Can I check a solicitor's record with the legal regulator?
Members of the public can read published Solicitor Regulator Association (SRA) decisions arising from investigations started on or after Jan 2008. Go to Check a solicitor's record. To find information about the period before 1 January 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, dial +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training reasons.
Do you have any top tips for leasehold conveyancing in Romford with the intention of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Romford can be reduced if you instruct lawyers the minute your agents start advertising the property and ask them to put together the leasehold information needed by the purchasers’ conveyancers. Some Romford leases require Licence to Assign from the landlord. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. If you have carried out any alterations to the residence would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Romford state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord consenting to such works. If you dont have the paperwork in place do not contact the landlord without contacting your solicitor first. If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unresolved. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as over as opposed to unsettled.
I am the registered owner of a second floor flat in Romford. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal make a decision on the premium due for a lease extension?
Absolutely. We can put you in touch with a Romford conveyancing firm who can help.
An example of a Lease Extension case for a Romford premises is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case was in relation to 1 flat. The unexpired lease term was 57.5 years.