My IFA has requested my Victoria Docks lawyer’ panel member for the Nationwide conveyancing panel. How do I find this out. I have contacted my local Victoria Docks office but they don't know it.
You are best placed to get this information from your Victoria Docks conveyancer . Most Victoria Docks conveyancing firms will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
I purchased a freehold house in Victoria Docks yet charged rent, why is this and what is this?
It’s unusual for properties in Victoria Docks and has limited impact for conveyancing in Victoria Docks but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
I am buying a new build flat in Victoria Docks. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Victoria Docks
-
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Due to the guidance of my in-laws I had a survey completed on a house in Victoria Docks before appointing lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor has said that some mortgage companies will refuse to grant a loan on this type of premises.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Victoria Docks. Conveyancing will be smoother if you use a solicitor in Victoria Docks especially if they regularly deal with such properties in Victoria Docks.
I work for a reputable estate agency in Victoria Docks where we see a number of leasehold sales jeopardised due to short leases. I have been given conflicting advice from local Victoria Docks conveyancing solicitors. Could you confirm whether the owner of a flat can initiate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder 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 buyer.
I am the registered owner of a garden flat in Victoria Docks. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Most definitely. We are happy to put you in touch with a Victoria Docks conveyancing firm who can help.
An example of a Lease Extension decision for a Victoria Docks flat is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case related to 1 flat. The number of years remaining on the existing lease(s) was 69.77 years.
I have finally had an offer on an maisonette in Victoria Docks agreed to, the vendor does however have a tied purchase. The sellers have offered on somewhere, although it’s not yet agreed to, and has viewings of other apartments booked. I have selected a local conveyancing lawyer in Victoria Docks. What should be my next step? When do I get the mortgage application with Skipton started with Skipton?
It is standard to have concerns where there is an associated chain as you are unlikely to want to incur expenses too early (home loan application is in the region of £1k, then valuation, Victoria Docks conveyancing search charges, etc). First, you should ensure that your property lawyer is on the Skipton approved list. As to the subsequent stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a rising market many purchasers would apply for a home loan with Skipton and pay for the survey and only if it was satisfactory would they ask their conveyancer to press on with the conveyancing in Victoria Docks.