My partner and I are looking to acquire a home in Shacklewell and have instructed a Shacklewell conveyancing firm. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Godiva Mortgages Ltd have this morning contacted us to inform me that there is now an issue as our Shacklewell solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Shacklewell lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
My nephew is buying a house that has just been built in Shacklewell with a mortgage from Bank of Ireland. His conveyancer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Bank of Ireland conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Shacklewell?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Shacklewell. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying a new build apartment in Shacklewell. Conveyancing is necessary evil 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.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Shacklewell
-
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are surveyor prepared. 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. Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants.
I decided to have a survey completed on a house in Shacklewell before appointing lawyers. I have been told that there is a flying freehold aspect to the property. My surveyor has said that some banks may refuse to give a mortgage on a flying freehold premises.
It varies from the lender to lender. HSBC has different requirements from Halifax. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Shacklewell. Conveyancing may be slightly more expensive based on your lender's requirements.
In what way does the Landlord & Tenant Act 1954 impact my business premises in Shacklewell and how can you help?
The particular law that you refer to gives a safeguard to business tenants, giving them the a statutory right to make a request to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Shacklewell is one of the numerous areas of the UK in which the firms we work with are based