Some advice if I may. My Millbank conveyancer is informing me me that he has toapply for Millbank conveyancing searches resulting from the fact thatthe firm are on the Lloydssolicitor panel. Is my lawyer right?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a lender your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Millbank conveyancing searches.
Should my solicitor be raising enquiries regarding flooding as part of the conveyancing in Millbank.
Flooding is a growing risk for lawyers dealing with homes in Millbank. Plenty of people will purchase a house in Millbank, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, however there are a various searches that may be initiated by the purchaser or by their lawyers which should give them a better appreciation of the risks in Millbank. The standard completed inquiry forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual question of the owner to determine if the premises has suffered from flooding. In the event that the residence has been flooded in past and is not disclosed by the owner, then a purchaser may issue a compensation claim as a result of such an inaccurate answer. A buyer’s conveyancers should also commission an enviro search. This will indicate if there is any known flood risk. If so, additional investigations should be conducted.
Are there restrictive covenants that are commonly picked up during conveyancing in Millbank?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Millbank. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am purchasing a new build house in Millbank with a mortgage from Lloyds TSB Bank. The developers refused to budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not reveal to my conveyancer about this side-deal as it could jeopardize 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.
We're novice buyers - agreed a price, yet the property agent informed us that the owners will only move forward if we appoint their recommended conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local solicitor accustomed to conveyancing in Millbank
We suspect that the seller is unaware of this demand. Should the seller desire ‘a quick sale', alienating a genuine purchaser is not the way to achieve this. Contact the vendors directly and make sure they understand (a)you are keen to buy (b)you are ready to go, with finances arranged © you do not need to sell (d) you intend to proceed fast (e)but you will continue to use your own,trusted Millbank conveyancing lawyers - not the ones that will provide their negotiator at the agency a commission or meet his conveyancing figures set by corporate headquarters.
I am in need of some leasehold conveyancing in Millbank. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in Millbank - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Having spent months of correspondence we are unable to agree with our landlord on how much the lease extension should cost for our flat in Millbank. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We are happy to put you in touch with a Millbank conveyancing firm who can help.
An example of a Lease Extension decision for a Millbank premises is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case was in relation to 2 flats. The unexpired term as at the valuation date was 56 years.