Is there a reason why leasehold purchase conveyancing in Emerson Park costs more?
Emerson Park leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
My house in Emerson Park is up for sale and I have a buyer. Will the property lawyer need to be required to be on the Barclays conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Barclays conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
I got the keys to my house on 13 August and the transaction details is yet to be registered. Any reason for this? My conveyancing solicitor in Emerson Park said it should be formalised inside ten days. Are properties in Emerson Park uniquely lengthy to register?
As far as conveyancing in Emerson Park registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timeframes can vary subject to who lodges the application, whether it is in order and if the Land registry have to notify any other persons or bodies. At present roughly three quarters of submission are fully dealt with within two weeks but occasionally there can be extensive hold-ups. Historically registration takes place after the purchaser is living at the property so 'speed' is not usually primary concern but where there is a degree of urgency associated with the registration then you or your conveyancer must communicate with the Registry to express the reasoning for an expedited registration.
I'm purchasing my first flat in Emerson Park with a mortgage from Birmingham Midshires. The developers would not budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent advised me not disclose to my solicitor about this extras as it would affect my mortgage with Birmingham Midshires. 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.
I've recently found out that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Emerson Park is the location of the property. Can you offer any advice?
Flying freeholds in Emerson Park are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Emerson Park you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Emerson Park may ascertain 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.
Back In 2007, I bought a leasehold house in Emerson Park. Conveyancing and Chelsea Building Society mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Emerson Park who previously acted has long since retired. What should I do?
The first thing you should do is make enquiries of the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Emerson Park conveyancing practitioner to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Following years of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Emerson Park. Can we issue an application to the Residential Property Tribunal Service?
Where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to determine the amount due.
An example of a Lease Extension matter before the tribunal for a Emerson Park flat is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The unexpired residue of the current lease was 57.5 years.