We are acquiring a newly constructed flat in Sydenham and my solicitor is informing me that she has to the bank to reveal incentives from the seller. I am on a tight deadline to sign contracts and I have no desire to prolong the conveyancing. 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 mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
My grandfather passed away last year and as sole heir and executor I was left the property in Sydenham. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this allowed?
If you plan to refinance then RBS will insist on your using a conveyancer on the RBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS mortgage is registered as a charge at the Land Registry.
I need some expedited conveyancing in Sydenham as I am faced with an ultimatum to sign on the dotted line in less than one month. A mortgage is not required. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are are a cash buyer you have the choice not to have searches conducted although no law firm would recommend that you don't. With lots of history conveyancing in Sydenham the following are instances of what can be revealed and adversely affect market value: Enforcement Actions, Outstanding Charges, Outstanding Grants, Railway Schemes,...
I'm buying my first flat in Sydenham with a mortgage from Bank of Scotland. The developers would not budge the price so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not to tell my solicitor about the deal as it could jeopardize my loan with Bank of Scotland. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
How does the Landlord & Tenant Act 1954 affect my business premises in Sydenham and how can you help?
The particular law that you refer to gives a safeguard to business lessees, granting the dueness to make a request to court for a continuation of occupancy when the lease comes to an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and assist with commercial conveyancing in Sydenham
My wife and I purchased a leasehold house in Sydenham. Conveyancing and Lloyds TSB Bank mortgage organised. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Sydenham who previously acted has now retired. What should I do?
The first thing you should do is contact HMLR to be sure that the individual purporting to own the freehold is indeed the new freeholder. You do not need to incur the fees of a Sydenham conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I have had difficulty in trying to purchase the freehold in Sydenham. Can this matter be resolved via the Leasehold Valuation Tribunal?
Absolutely. We are happy to put you in touch with a Sydenham conveyancing firm who can help.
An example of a Lease Extension case for a Sydenham flat is Flat 1 4 Border Crescent in March 2012. the Tribunal decided that the sum payable by the Applicants to the Respondent in respect of the new lease for the subject property should be £11,616.00 (ElevenThousand and Six Hundred and Sixteen Pounds) This case affected 1 flat. The unexpired term was 72.04 years.