We are only a couple days away from an exchange on a property in West Norwood and my mum and dad have sent the ten percent deposit to my solicitor. I am now told that as the deposit has been sent from someone other than me my property lawyer needs to make a notification to my mortgage company. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I advised the bank concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
Your property lawyer is duty bound to check with lender to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Should my conveyancer be asking questions regarding flooding during the conveyancing in West Norwood.
Flooding is a growing risk for conveyancers conducting conveyancing in West Norwood. Plenty of people will purchase a house in West Norwood, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, but there are a number of searches that can be carried out by the buyer or by their conveyancers which should give them a better understanding of the risks in West Norwood. The standard property information forms sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a usual question of the seller to find out whether the premises has historically flooded. In the event that the property has been flooded in past which is not notified by the seller, then a buyer could issue a claim for damages as a result of such an incorrect response. A buyer’s lawyers may also conduct an environmental search. This should disclose whether there is a recorded flood risk. If so, further inquiries will need to be initiated.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. West Norwood is the location of the property. What do you suggest?
Flying freeholds in West Norwood are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in West Norwood you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in West Norwood may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am a sole trader wishing to take an assignment of a lease of an office on a shopping parade. Can you recommend solicitors offering no-sale-no costs for non-domestic conveyancing in West Norwood for under £1,200?
We are happy to recommend firms who have specialist knowledge of commercial conveyancing in West Norwood, including the sale and acquisition of businesses as well as simply premises. Whether you are hoping to buy or dispose of a shop, pub, restaurant, office, retail unit or a whole business we will find you the right lawyer. Regarding the charges these will vary based on the structure and complexity of the proposed transaction. Please provide us with your contact information or phone so as to enable us to supply you with comprehensive commercial conveyancing quote.
I need to find a conveyancing solicitor for leasehold conveyancing in West Norwood. I have stumble upon a site which looks to be the ideal offering If it is possible to get all this stuff completed via web that would be preferable. Should I be wary? 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?
Do you have any top tips for leasehold conveyancing in West Norwood from the perspective of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in West Norwood can be bypassed if you appoint lawyers as soon as you market your property and ask them to put together the leasehold information which will be required by the buyers’ lawyers. In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in West Norwood state that internal structural alterations or laying down wooden flooring necessitate a licence issued by the Landlord consenting to such works. Where you dont have the paperwork in place do not contact the landlord without contacting your lawyer in the first instance. You may think that you are aware of the number of years remaining on your lease but you should verify this by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to to exchange contracts if the lease term is less than 75 years. It is therefore important at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Arranging a new share certificate can be a lengthy process and delays many a West Norwood conveyancing deal. If a new share is necessary, you should approach the company director and secretary or managing agents (where applicable) for this at the earliest opportunity. If you have had conflict with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unresolved.
I am the proprietor of a two-bedroom flat in West Norwood. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal make a decision on the sum payable for a lease extension?
Most definitely. We are happy to put you in touch with a West Norwood conveyancing firm who can help.
An example of a Freehold Enfranchisement case for a West Norwood residence is 172 Knollys Road in February 2012. On 13 September 2011 District Judge Guinan made a vesting order and the proceedings were transferred to the tribunal for the purpose of assessing the premium which was subsequently calculated to be £24,003 This case related to 4 flats. The unexpired term as at the valuation date was 98.28 for 3 flats other than the garden flat which had 66.04 years remaining.