My husband and I are buying a new build duplex in Forestdale and my lawyer is advising me that she is duty bound to the lender to disclose incentives from the seller. I am nearing the developer’s deadline to exchange contracts and I would rather not delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Are the BSA planning on creating a search tool with a view to to identify law firms on the Coventry BS conveyancing panel for example in Forestdale?
We are not aware of any plans on the part of the BSA to promote such a tool.
My partner and I are intent on selling our home in Forestdale and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. A high street Forestdale lawyer would know this is not the case. For the life of me I don't know why the purchasers are using a national conveyancing practice rather than a conveyancing solicitor in Forestdale. We have lived in Forestdale for many years we know that this is a non issue. Do we get in touch with our local Authority to seek clarification that there is no issue.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I own a semi-detached Victorian house in Forestdale. Conveyancing lawyer acted for me and Halifax. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold with the exact same property. I thought I was buying a freehold how can I check?
You need to read 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 Forestdale and other locations in 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 buyers. You can also question the situation with the conveyancing lawyer who conducted the work.
Due to the advice of my in-laws I had a survey completed on a house in Forestdale before instructing solicitors. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some banks tend not give a loan on this type of home.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Forestdale. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Forestdale to see if the conveyancing costs will increase in light of this.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great price which is making it all the more appealing. I have since discovered that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Forestdale. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Forestdale ?
Most houses in Forestdale are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Forestdale so you should seriously consider shopping around for a Forestdale conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your lawyer will appraise you on the various issues.
I have attempted and failed to negotiate with my landlord for a lease extension without any joy. Can a leaseholder make an application to the Leasehold Valuation Tribunal? Can you recommend a Forestdale conveyancing firm to represent me?
if there is a missing landlord or where there is disagreement about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to decide the amount due.
An example of a Freehold Enfranchisement decision for a Forestdale property is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case was in relation to 6 flats. The unexpired term as at the valuation date was 78.32 years.