Am I correct in assuming that the fact that my solicitor in Osterley is not listed on my bank's conveyancing panel that there is a problem with the standard of her work?
That is more than likely a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Osterley conveyancing firm and enquire why they are no longer on the approved list for your bank.
My uncle passed away six months ago and as sole heir and executor I was left the house in Osterley. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this allowed?
Where you intend to refinance then Nottingham will insist on your using a conveyancer on the Nottingham conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nottingham conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nottingham mortgage is registered as a charge at the Land Registry.
Are there restrictive covenants that are commonly identified during conveyancing in Osterley?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Osterley. 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…’
The estate agent has sent us the confirmation of our purchase of a new build flat in Osterley. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Osterley
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Please supply a car parking plan. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Due to the advice of my in-laws I had a survey completed on a property in Osterley before appointing solicitors. I have been advised that there is a flying freehold overhang to the property. My surveyor advised that some banks tend not issue a mortgage on a flying freehold property.
It varies from the lender to lender. Lloyds has different instructions from Nationwide. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Osterley. Conveyancing will be smoother if you use a solicitor in Osterley especially if they are acquainted with such properties in Osterley.
Last April I purchased a leasehold house in Osterley. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner 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 ensure 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 tried to negotiate informally with with my landlord to extend my lease without any joy. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Osterley conveyancing firm to assist?
if there is a absentee freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to decide the premium.
An example of a Lease Extension matter before the tribunal for a Osterley residence is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case affected 1 flat. The unexpired lease term was 60.45 years.