Finally the sale completed on my house in Osterley last August yet the purchaser is calling daily complaining that his solicitor needs to hear from mine. What should have happened following completion?
Post completion of your house sale your lawyer is duty bound to send the transfer documentation and all additional paperwork to the purchaser's solicitors. If applicable, your solicitor should also evidence that the mortgage has been repaid to the buyers lawyers. There are no post completion requirements just for conveyancing in Osterley.
We are buying a 4 bedroom semi-detached house in Osterley. Our aim is to an extension at the rear at the house.Will the conveyancing process involve investigations to see if these alterations are prohibited?
Your property lawyer should check the registered title as conveyancing in Osterley will on occasion reveal restrictions in the title documents which prevent categories of works or require the consent of another owner. Many works require local authority planning consent and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these issues with a surveyor before you commit yourself to a purchase.
The formalities of my remortgage has taken place for my property in Osterley. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I am selling my flat. I had a double glazing fitted in October 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Bank of Ireland are being problematic. The Osterley solicitor who is on the Bank of Ireland conveyancing panel is recommending indemnity insurance as a solution but Bank of Ireland are requiring a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
It has been 3 months since my purchase conveyancing in Osterley completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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 property 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.
I have been on the look out for a ground for flat up to £195,000 and identified one near me in Osterley I like with open areas and transport links nearby, however it's only got 61 remaining years left on the lease. I can't really find anything else in Osterley suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the shortness of the lease will be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
How can the Landlord & Tenant Act 1954 affect my business property in Osterley and how can you help?
The 1954 Act gives protection to business lessees, giving them the dueness to apply to court for a renewal tenancy and remain in occupation when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and help with commercial conveyancing in Osterley
I am looking at a two apartments in Osterley both have in the region of 50 years left on the lease term. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold flat in Osterley is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the property. The majority of buyers and mortgage companies, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Osterley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
We have reached the end of our tether in trying to purchase the freehold in Osterley. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Absolutely. We can put you in touch with a Osterley conveyancing firm who can help.
An example of a Lease Extension decision for a Osterley property 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 was in relation to 1 flat. The unexpired lease term was 60.45 years.