I am helping my step-mother sell her property in Moor Park. Does the conveyancer arrange an energy assessment or should I organise this?
After the demise of HIPs, energy assessments was maintained a required part of selling a property. An energy assessment needs to be to hand prior to the property being advertised. It is not something that law firms ordinarily arrange. If you are instructing a Moor Park conveyancing lawyer they may be able to arrange EPC’s given their contacts with long established Moor Park providers
Are all Moor Park Conveyancing Quality Solicitors on the Virgin Money conveyancing panel?
Some major lenders now use CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of firms.
When it comes to mortgage companies such as Coventry BS, do Moor Park property lawyers incur a yearly amount to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
I am buying a new build house in Moor Park with a loan from Nationwide Building Society. The builders refused to move on the amount so I negotiated £7000 of additionals instead. The sale representative told me not inform my solicitor about this extras as it could put at risk my loan with the lender. Is this normal?.
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've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Moor Park is the location of the property. What do you suggest?
Flying freeholds in Moor Park are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Moor Park you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Moor Park may decide 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 residence.
How does the Landlord & Tenant Act 1954 affect my commercial property in Moor Park and how can your lawyers assist?
The particular law that you refer to gives a safeguard to business lessees, granting the right to apply to court for a renewal lease and continue in occupation at the end of an expired lease. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act for protection and handle your commercial conveyancing in Moor Park
I have had difficulty in trying to reach an agreement for a lease extension in Moor Park. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a missing freeholder or where there is disagreement about what the lease extension should cost, under the relevant statutes it is possible to make an application to the LVT to judgment on the price payable.
An example of a Lease Extension case for a Moor Park premises is Flats 8, 11 and 15 Craigmore Court 46 Murray Road in December 2013. The tribunal held that the price payable by the Applicant tenant of Flat 8 to acquire an extended lease shall be £26,438 plus £1 to the intermediate lessee . The tribunal held that the price payable by the Applicant tenants of Flat 11 to acquire an extended lease shall be £26,791 plus £1 to the intermediate lessee. The tribunal held that the price payable by the Applicant tenant of Flat 15 to acquire an extended lease shall be £26,638 plus £1 to the intermediate lessee . This case was in relation to 3 flats. The unexpired residue of the current lease was 71 years.
When it comes to leasehold conveyancing in Moor Park what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Moor Park. All leases are individual and legal mistakes in the legal wording can result in certain sections are wrong. The following missing provisions could result in a defective lease:
Service charge per centages that don't add up correctly leaving a shortfall A duty to insure the building
You may have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Coventry Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to pull out.
Me and my husband have recently had an offer agreed on a apartment and had an appointment on Tuesday with Leeds Building Society for the mortgage. They have informed me that when it comes to choosing a conveyancing practitioner that if they are not on their approved list of conveyancers then we will incur an additional fee of £250+. This is because they will then have to appoint a property lawyer to act for them as well as the one we choose to act for ourselves and we will be on the hook for their fees. I have asked Leeds Building Society to supply me with a list so I can seek quotes only from their approved conveyancers but was told they dont have such a list to hand over. Is there a list online?
Ask Leeds Building Society what their panel criteria is for a conveyancer.Thereafter ask the lawyer of your choice whether they fit that criteria and have they acted on mortgages for Leeds Building Society in the past. If the answer to those is yes, then just clarify this with Leeds Building Society. Another option is to use our search tool and we should be able to find you a solicitor in Moor Park on the panel for Leeds Building Society.