My wife and I are refinancing our apartment in Isle of Dogs with Coventry BS. We have a son 18 who lives at home. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have a couple of concerns (1) Is this document specific to the Coventry BS conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Coventry BS. This is solely used to protect Coventry BS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Coventry BS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
We wanted to use a property lawyer in Isle of Dogs for our house purchase. Our financial adviser informed us that our mortgage lenders Barclays Direct won't deal with them. Surely this is unfair competition?
Before the recession most lenders had a different appetite for risk. Almost all Isle of Dogs conveyancing firms would have been on most mortgage company panels. The FSA in 2010 conducted a thematic review into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more data from law firms about their operations and their employees and establishing certain criteria such a completing on a minimum number of transactions. Many Isle of Dogs conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Isle of Dogs is amongst the many locations where the lawyers we list are on the panel for Barclays Direct.
We are planning on selling our property in Isle of Dogs and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any local lawyer would know this is not the case. It does beg the question why the buyers are using an internet conveyancing firm as opposed to a conveyancing solicitor in Isle of Dogs. Having lived in Isle of Dogs for 4 years we know of no issue. Should we get in touch with our local Authority to get confirmation that the buyers are looking for.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You need to enquire of 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 life insurance to cover that same sickness)
I am buying my first flat in Isle of Dogs with a loan from Halifax. The builders refused to reduce the amount so I negotiated £7000 of additionals instead. The estate agent told me not disclose to my solicitor about the extras as it may put at risk my mortgage with Halifax. Do I keep my lawyer in the dark?.
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.
My company is intending to take over a lease of a shop on the high street. Can you recommend conveyancers offering no-sale-no charges for commercial conveyancing in Isle of Dogs for less than 1500k?
We can recommend firms who have specialist knowledge of commercial conveyancing in Isle of Dogs, including the disposal and acquisition of businesses as well as simply property. If you are intending to purchase or dispose of a shop, pub, restaurant, office, retail unit or a whole business we will find you the right firm. Regarding the fees this will depend on the structure and nuances of the proposed transaction. Please provide us with your details or call so as to enable us to furnish you with a detailed commercial conveyancing calculation.
I've recently bought a leasehold house in Isle of Dogs. Am I liable to pay service charges for periods before completion of my purchase?
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. However, your landlord may still be able to take action to forfeit the lease. A critical element 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 have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Isle of Dogs conveyancing firm to represent me?
if there is a absentee landlord or where there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the LVT to make a decision on the amount due.
An example of a Freehold Enfranchisement decision for a Isle of Dogs residence is 12, 14 & 16 Hull Close in May 2010. the Tribunal determined that the premium payable for the acquisition of the freehold to the subject premises was the sum of £18,300 This case affected 3 flats. The unexpired term as at the valuation date was 101.61 years.