We are buying a new build apartment in West Ealing and my lawyer is telling me that she is duty bound to the mortgage company to disclose incentives from the builder. I am under pressure to sign contracts and I would rather not delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
This question may be naive but I am wet behind the ears as a 1st time purchaser of a ground floor flat in West Ealing. Do I pick up the keys to the property on the completion date from my conveyancer? If so, I will use a High Street conveyancing solicitor in West Ealing?
On the day of completion you will not be required to attend the conveyancers office in West Ealing. Conveyancing lawyers for you will electronically transfer the purchase money to the owner’s conveyancers, and once they have received this, you will be invited to pick up the keys from the Estate Agents and move into your new home. Usually this occurs between 1 and 3pm.
I have today made my last payment due on my mortgage with Lloyds. I assume I don't need a West Ealing solicitor on the Lloyds panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
Nationwide have agreed my home loan in principle, my bid on a house in West Ealing has been agreed to, what happens next?
The property agent will wish to be advised as to your conveyancer's details (make sure the property lawyers are on the lender’s panel). Contact Nationwide or the financial adviser and finalise any appropriate forms. Nationwide will instruct a valuer who will get in contact with the estate agent or owners to schedule an appointment. Once carried out (assuming no problems) it takes on average a week to receive the mortgage offer. Nationwide will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in West Ealing.
We are selling our property in West Ealing and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any high street West Ealing lawyer would know this is not the case. It does beg the question why the buyers used a factory type conveyancing outfit rather than a conveyancing solicitor in West Ealing. Having lived in West Ealing for 4 years we know that this is a non issue. Should we get in touch with our local Authority to obtain clarification that the buyers are looking for.
It sounds as though you may have a conveyancing firm already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
How does conveyancing in West Ealing differ for new build properties?
Most buyers of new build or newly converted property in West Ealing approach us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is finished. This is because new home sellers in West Ealing usually buy the land, 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 property lawyers 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 accustomed to new build conveyancing in West Ealing or who has acted in the same development.
I need to instruct a conveyancing solicitor for residential conveyancing in West Ealing. I have discover a web site which looks to be the ideal solution If there is a chance to get all formalities completed via web that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am a negotiator for a reputable estate agency in West Ealing where we see a number of flat sales put at risk due to short leases. I have received conflicting advice from local West Ealing conveyancing firms. Can you clarify whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I have tried to negotiate informally with with my landlord to extend my lease without getting anywhere. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a West Ealing conveyancing firm to assist?
Most definitely. We can put you in touch with a West Ealing conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a West Ealing property is 6 Jessamine Road in August 2013. The Tribunals valuation (as annexed to the decision) calculated the amount payable as £18,355 for the freehold reversion This case related to 2 flats. The remaining number of years on the lease was 72.39 years.