I am acquiring a new build apartment in Lee and my conveyancer is informing me that she is duty bound to the mortgage company to reveal incentives from the developer. I am under pressure to exchange and I have no desire to delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Having sold my house in Lee last August yet the purchaser is texting every few hours to moan that her solicitor is waiting to hear from mine. What are the post completion sale legalities following completion?
Post completion of your sale your solicitor is duty bound to forward the transfer deeds and all additional paperwork to the buyer’s solicitors. Where relevant, your solicitor must also evidence that the home loan has been redeemed to the buyers conveyancers. There are no post completion procedures just for conveyancing in Lee.
We are intent on selling our property in Lee and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. Any high street Lee lawyer would know this is not the case. It does beg the question why the purchasers used an internet conveyancing outfit rather than a conveyancing solicitor in Lee. Having lived in Lee for six years we know of no issue. Should we contact our local Authority to obtain confirmation need.
It sounds as though you may 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 health insurance to cover that same sickness)
It has been 3 months since my purchase conveyancing in Lee concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Lee is where the house is located. Can you offer any opinion?
Flying freeholds in Lee 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 Lee you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lee may determine 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 property.
I am tempted by the attractive purchase price for a couple of maisonettes in Lee which have in the region of fifty years left on the leases. Will this present a problem?
There are plenty of short leases in Lee. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease reduces and results in it becoming more expensive to extend the lease. For this reason it is advisable to extend the lease term. It is often difficulties arise selling premises with a short lease as mortgage lenders may be unwilling to lend money on such properties. Lease extension can be a protracted process. We advise that you get professional help from a solicitor and surveyor with experience in this field.
I have tried to negotiate informally with with my landlord for a lease extension without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Lee conveyancing firm to help?
Where there is a missing landlord or where there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the sum to be paid.
An example of a Freehold Enfranchisement case for a Lee residence is 18 Handen Road in April 2013. On 26 October 2012 District Judge Zimmels sitting at the Lambeth County Court made a Vesting Order that the Applicants be granted the right to acquire the freehold upon such terms and at such price determined by the LVT. The Tribunal arrived a figure of £39,535 as a valuation for the enfranchisement. This case related to 3 flats. The remaining number of years on the lease was 69.05 years.