My husband and I are approaching an exchange on a property in Northolt and my mum and dad have sent the 10% deposit to my solicitor. I am now informed that as the deposit has been sent from someone other than me my solicitor needs to disclose this to my lender. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your lawyer is duty bound to clarify with lender to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only report this to your lender if you agree, failing which, your lawyer must cease to continue acting.
My stepmother advised me that in purchasing a property in Northolt there could be various restrictions prohibiting external alterations to the property. Is this right?
We are aware of a number of properties in Northolt which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Northolt should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My wife and I have arranged the release of further funds on our home loan from Skipton as we want to carry out alterations to our property in Northolt. Are we obliged to select a local Northolt solicitor on the Skipton conveyancing panel to deal with the paperwork?
Skipton don't usually appoint a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton list.
We have agreed to purchase a house in Northolt. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Principality be concerned?
As you are obtaining a mortgage with Principality your lawyer must follow the formal requirements contained in Part two of UK Finance Lenders’ Handbook for Principality. The Council of Mortgage Lenders’ Handbook sets out minimum conditions for solar panel roof-space leases, and conveyancers are required to report to Principality where a lease does not meet these provisions. The conditions relate to the installation of panels on properties countrywide and is not limited to Northolt.
Will commercial conveyancing searches disclose impending roadworks that may impact a commercial site in Northolt?
Its becoming the norm that commercial conveyancing solicitors in Northolt will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Northolt. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Northolt.
For every commercial conveyancing transaction in Northolt it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may result in delays to Northolt commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Northolt.
How does conveyancing in Northolt differ for new build properties?
Most buyers of new build property in Northolt contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is constructed. This is because builders in Northolt tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Northolt or who has acted in the same development.
I work for a busy estate agency in Northolt where we have experienced a few leasehold sales put at risk as a result of short leases. I have received contradictory information from local Northolt conveyancing solicitors. Could you shed some light as to whether the seller of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
After years of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Northolt. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Where there is a absentee freeholder or where there is dispute about what the lease extension should cost, under the relevant statutes you can apply to the LVT to judgment on the price payable.
An example of a Lease Extension decision for a Northolt property is GFF 1 Holyrood Avenue in May 2014. The Tenant wished to acquire a new (extended) lease and applied to the Willesden County Court who granted a vesting order on 20* March2013. The Tribunal decied that the premium to be paid was £9,062 This case affected 1 flat. The unexpired lease term was 79 years.
My in 2006. He has got wed, divorced and is now married again. He will be marketing the property in a couple of months. I think he will just be requested to provide a copy of his marriage certificates to the conveyancing practitioner however he is worried it could hold up the home sale. Should he instruct a lawyer to update the Land Registry information for the house?
You are not required to update the register providing you have the evidence needed to demonstrate how the name change occurred.
The buyer’s lawyer should check the title entries and request evidence to establish the change of name for instance marriage certificates.