I am obtaining a offer of a home loan from Halifax. I intend to retain the legal services of a Licensed Conveyancer in Chinatown. Does the Halifax Conveyancing panel exclude Licensed Conveyancers?
The Halifax approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Should my conveyancer be asking questions regarding flooding during the conveyancing in Chinatown.
Flooding is a growing risk for solicitors dealing with homes in Chinatown. There are those who acquire a property in Chinatown, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, but there are a number of checks that can be carried out by the buyer or by their solicitors which should figure out the risks in Chinatown. The conventional set of information sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the owner to determine if the property has ever been flooded. In the event that the premises has been flooded in past and is not notified by the vendor, then a buyer may bring a claim for damages stemming from an misleading response. The buyer’s lawyers should also commission an enviro search. This should indicate if there is a recorded flood risk. If so, further inquiries will need to be initiated.
It has been five months since my purchase conveyancing in Chinatown completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Just had an offer accepted on a new build flat in Chinatown. Conveyancing is a frightening process 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 legal work.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Chinatown
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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.
Given that I am about to part with over three hundred thousand on a property in Chinatown I would like to talk to a lawyer about myconveyancing prior to giving the go ahead to the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you first talking to the lawyer due to be carrying out your property ownership legalities in Chinatown.There is no ‘factory style conveyancing’ - every client is an important person, not a file reference. The solicitors that we put you in touch with believe that the fees you are calculated and presented to you for residential conveyancing in Chinatown should be the figure that you end up paying.
Can you provide any advice for leasehold conveyancing in Chinatown with the intention of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Chinatown can be reduced where you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold documentation needed by the purchasers’ lawyers. If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example laid down wooden flooring? Chinatown leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Should you fail to have the paperwork in place you should not communicate with the landlord without checking with your lawyer before hand. If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Obtaining a re-issued share certificate is often a lengthy process and slows down many a Chinatown conveyancing transaction. Where a duplicate share certificate is required, you should approach the company director and secretary or managing agents (if applicable) for this at the earliest opportunity. If you have had any disputes with your freeholder or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a flat where there is an ongoing 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 details of the dispute to the buyers, but it is better to present the dispute as historic rather than unresolved.
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Chinatown. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We can put you in touch with a Chinatown conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Chinatown flat is 36 New Wanstead in August 2010. The Tribunal arrived at a valuation of the premium for the freehold of £22,359. This case affected 2 flats. The unexpired residue of the current lease was 73.92 years.