My lawyer has uncovered a a legal deficiency with the lease for the property we are purchasing in South Harrow. The other side have put forward defective title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancing practitioner says that he must ensure that the mortgage company is content with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Do the Building Society Association intend to launch a search tool with a view to to identify solicitors on the Loughborough BS conveyancing panel for instance in South Harrow?
We would not expect to be advised of any intention on the part of the BSA to promote such a tool.
Are there restrictive covenants that are commonly picked up during conveyancing in South Harrow?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in South Harrow. 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…’
Over the last few months I have been searching for a leasehold apartment up to £305k and found one near me in South Harrow I like with a park and transport links nearby, however it only has 49 remaining years left on the lease. I can't really find anything else in South Harrow for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage the shortness of the lease may be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you may 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 consult your conveyancing lawyer about this.
I have just started marketing my basement flat in South Harrow. Conveyancing solicitors are to be appointed soon, however I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the maintenance contribution as normal because all ground rent and service invoices should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until 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. This will smooth the conveyancing process.
We have reached the end of our tether in seeking a lease extension in South Harrow. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee freeholder or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the LVT to judgment on the price.
An example of a Lease Extension case for a South Harrow property is GFF 1 Holyrood Avenue in May 2014. The Tenant wished to acquire a new (extended) lease and applied to the Willesden County Court who granted a vesting order on 20* March2013. The Tribunal decied that the premium to be paid was £9,062 This case related to 1 flat. The unexpired residue of the current lease was 79 years.
I am planning to acquire a flat and need a conveyancing solicitor in South Harrow who is on the lender conveyancing panel. Could you point me in the right direction as regards a South Harrow solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the bank who carry out conveyancing in South Harrow. We dont recommend any particular firm.