I am soon to complete on the purchase of a property in West Barnes but as a consequence of wreckage from the recent storms I have was able negotiate reparation from the vendor of £2k by way of a adjustment in the price. This was going to be addressed as part of amending the contract yet Yorkshire BS will not agree to this. Should they have been approached?
The conveyancer that is on a Yorkshire BS approved list is obliged to inform Yorkshire BS of any variations to the purchase price. If you prohibit your conveyancing practitioner to notify the reduction to Yorkshire BS then they would have to discontinue acting for you. In addition, Yorkshire BS and you would have to appoint a new lawyer for your conveyancing in West Barnes.
I have an AIP. The lender mentioned the home loan came with free conveyancing. Does this mean I have to use their panel conveyancer as I would prefer to instruct a West Barnes based conveyancing firm?
You should check but the chances are that give you one of their panel solicitors should you accept the "fee-free" incentive. Contact the bank and see if they make available a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor in West Barnes.
How does conveyancing in West Barnes differ for newly converted properties?
Most buyers of new build property in West Barnes come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is completed. This is because house builders in West Barnes tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in West Barnes or who has acted in the same development.
I decided to have a survey carried out on a property in West Barnes prior to retaining solicitors. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some mortgage companies will refuse to grant a mortgage on such a house.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in West Barnes. Conveyancing may be slightly more expensive based on your lender's requirements.
Do you have any top tips for leasehold conveyancing in West Barnes from the point of view of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in West Barnes can be avoided where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the buyers’ representatives. In the event that you altered the property did you need the Landlord’s consent? Have you, for example installed wooden flooring? Most leases in West Barnes state that internal structural alterations or installing wooden flooring require a licence from the Landlord acquiescing to such works. If you dont have the consents in place do not contact the landlord without contacting your conveyancer first. If there is a history of conflict with your landlord or managing agents it is essential that these are resolved before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is a current dispute. You may need to swallow your pride and discharge 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 ahead of 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 better to reveal the dispute as historic as opposed to ongoing. If you are supposed to have a share in the freehold, you should ensure that you hold the original share document. Organising a new share certificate can be a lengthy process and slows down many a West Barnes home move. Where a duplicate share certificate is necessary, do contact the company officers or managing agents (where applicable) for this as soon as possible. Some West Barnes leases require Licence to Assign from the landlord. If this is the case, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference should make it clear that the buyer is able to meet the yearly 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 buyers or their lawyers.
I am the proprietor of a basement flat in West Barnes. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal make a decision on the premium payable for a lease extension?
Where there is a absentee freeholder or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the First-tier Tribunal (Property Chamber) to decide the amount due.
An example of a Lease Extension matter before the tribunal for a West Barnes property is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case related to 1 flat.
My plan is to purchase a ground floor apartment in West Barnes. Conveyancing solicitor is awaiting, from the seller, building insurance documents. Earlier today I was advised that the seller needs to forward the insurance paperwork for the flat above in addition. Why would my conveyancing practitioner want to see the insurance for the other flat? Is it strictly required? We have been stalled for the previous fortnight…
It is not impossible in leasehold conveyancing in West Barnes to find Conveyancing in West Barnes in a minority of cases reveals that the lease obliges the tenant's to insure their individual flats rather than the freeholder insuring the complete premises - which is definitely better. Do double check with your property lawyer but it would seem that your conveyancer is seeking to establish that the entire building is insured. Insuring a ground floor flat is no help when it comes to rebuilding after a fire if the other flat cannot be reinstated for lack of insurance.