I require conveyancing for an apartment in a fairly new development (seven years old) in Fitzrovia. The vast majority the flats have already been occupied. Is it really necessary to order conveyancing searches for my conveyancing in Fitzrovia?
Conveyancing Searches are a central link in the Fitzrovia conveyancing process. There are numerous search providers delivering Fitzrovia conveyancing searches, as well straight from the local authority. These are known collectively as personal search organisation due to them carrying out, personal searches. Nevertheless, all Local Authority Search conveyancing products have one thing in common - they must obtain their data from the local authority.
I happen to be the only beneficiary of my late mum's will and I have everything in my name now, including the house in Fitzrovia. The Fitzrovia property was put into my name in May. I want to move. I do know about the CML six month 'rule', which means that my property ownership will be considered the same way as if I'd bought the property in May. Is the property unsalable for six months?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. Most banks would take a practical view as this clause is primarily there to pick up on subsales or the quick reselling of property.
We expect to receive a DIP from Aldermore this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Aldermore recommend any Fitzrovia solicitors on the Aldermore conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Fitzrovia solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
Nottingham have agreed my mortgage in principle, my bid on a property in Fitzrovia has been agreed to, what happens next?
Your estate agent will want to know who your solicitors are (make sure the lawyers are on the bank’s approved list). Contact Nottingham or your financial adviser and finish off any outstanding paperwork. Nottingham will instruct a valuer who will get in contact with the selling agent or vendor to arrange a time for the valuation to happen. Once conducted (assuming no problems) it takes approximately a week to receive the mortgage offer. Nottingham will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Fitzrovia.
I am purchasing a new build house in Fitzrovia with a loan from Lloyds TSB Bank. The sellers would not budge the price so I negotiated 6k of additionals instead. The sale representative told me not reveal to my solicitor about this extras as it would affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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 house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Fitzrovia is the location of the property. Is there any advice you can give?
Flying freeholds in Fitzrovia are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Fitzrovia you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fitzrovia may decide 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 premises.
My business partner and I are hoping to take over a lease of an office on a shopping parade. Can you recommend solicitors offering fixed charges for commercial conveyancing in Fitzrovia for less than £1,200?
We can recommend firms who have specialist knowledge of commercial conveyancing in Fitzrovia, including the disposal and purchase of businesses as well as simply premises. Whether you are looking to acquire or dispose of a shop, pub, restaurant, office, retail unit or a whole business we can put you in touch with the right lawyer. As for the fees this will depend on the structure and complexity of the proposed transaction. Please provide us with your details or call us so that we can furnish you with comprehensive commercial conveyancing calculation.
I work for a reputable estate agent office in Fitzrovia where we see a number of leasehold sales derailed due to short leases. I have received contradictory information from local Fitzrovia conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can commence the lease extension process for the buyer?
Provided that 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. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord 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.
I am the proprietor of a two-bedroom flat in Fitzrovia. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
in cases where there is a missing freeholder 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 LVT to judgment on the price.
An example of a Freehold Enfranchisement case for a Fitzrovia property is 20 Avonwick Road in July 2013. The Tribunal was dealing with an application under Section 26 of the Leasehold Reform Housing and Urban Development Act 1993 for a determination of the freehold value of the property. It was concluded that the price to be paid was Fifteen Thousand Nine Hundred and Seventy (£15,970) divided as to £8,200 for Flat 20 and £7,770 for Flat 20A This case related to 1 flat. The unexpired residue of the current lease was 73.26 years.