I'm purchasing a new build house in Harringay benefiting from help to buy. The builders would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not inform my lawyer about this side-deal as it will affect my mortgage 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 opted to have a survey carried out on a house in Harringay ahead of instructing lawyers. I have been told that there is a flying freehold element to the house. The surveyor advised that some lenders will refuse to give a loan on a flying freehold premises.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. If you e-mail us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Harringay. Conveyancing will be smoother if you use a solicitor in Harringay especially if they are accustomed to such properties in Harringay.
I was recommended by a couple of local selling agents in Harringay to find a property lawyer on your site. What’s the financial advantage for Estate Agents to recommend your site over and above alternative conveyancing organisations?
We don’t make any financial incentive for directing people in our direction. We found it would be just too difficult a fee because members of the public would think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
I have been sourcing a conveyancing practitioner in Harringay for my sale. Is it possible to review a solicitor's record with the legal regulator?
One may find published Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Go to Check a solicitor's record. For details Pre 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, call +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training requirements.
I've recently bought a leasehold property in Harringay. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the proprietor of a basement flat in Harringay. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the amount due for the purchase of the freehold?
You certainly can. We can put you in touch with a Harringay conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Harringay property is 37 St. Margarets Avenue in January 2010. Following a vesting order by Edmonton County Court on 8th November 2008 the Tribunal decided that the price that the Applicant for the freehold interest should pay is £20,543 This case related to 2 flats. The unexpired term was 74.75 years.
Can I establish who is the owner of a property in Harringay?
As long as the premises is recorded at the Land Registry, and you have requisite specifics of the address of the property, you will be able to see details from the HMLR of the registered proprietor for a fee.