Should my conveyancer be making enquiries regarding flooding as part of the conveyancing in Chingford.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Chingford. There are those who acquire a property in Chingford, fully aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, but there are a number of checks that may be carried out by the buyer or on a buyer’s behalf which will figure out the risks in Chingford. The conventional set of property information forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the seller to determine whether the property has suffered from flooding. In the event that the premises has been flooded in past which is not revealed by the owner, then a purchaser may bring a compensation claim stemming from an incorrect answer. A purchaser’s lawyers may also conduct an environmental report. This should disclose if there is any known flood risk. If so, further inquiries should be conducted.
I have a 4 bedroom Edwardian property in Chingford. Conveyancing lawyer represented me and Bank of Ireland. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Chingford and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with your conveyancing practitioner who conducted the work.
I am buying my first flat in Chingford with a loan from Barclays . The sellers refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The property agent told me not to tell my conveyancer about the extras as it will jeopardize my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
In searching the world wide web for the phrase cheap conveyancing in Chingford it reveals numerous solicitorsin the area. How do I determine which is the suitable conveyancer for the sale of my house?
The best way of finding the right conveyancer is via trusted testimonial, so ask friends and relatives who have acquired a property in Chingford or a reputable estate agent or mortgage broker. Fees for conveyancing in Chingford differ, so it's advisable to obtain a minimum of three fee estimates from varying types of property lawyers. Be sure to seek confirmation that the charges are guaranteed not to to be inflated.
I work for a reputable estate agent office in Chingford where we see a few flat sales derailed as a result of short leases. I have received conflicting advice from local Chingford conveyancing firms. Please can you confirm whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease 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. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.
An alternative approach is 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 purchaser.
After months of negotiations we simply can't agree with our landlord on how much the lease extension should cost for our flat in Chingford. Can we issue an application to the Residential Property Tribunal Service?
Most certainly. We can put you in touch with a Chingford conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Chingford residence is 201 & 201a St. Barnabas Road in October 2013. The Tribunal decided that the price to be paid by the Applicants for the freehold interest is £20,071. This case was in relation to 2 flats. The unexpired term as at the valuation date was 69.26 years.
A couple of weeks ago I was informed by my lender that their panel lawyers work on no completion no charge basis for conveyancing in Chingford. I had a purchase abort yet the conveyancers have requested search fees! They say the fees are independent!
Chingford conveyancing search charges are separate expenses not solicitors fees as these are payable to independent parties.