We are acquiring a brand new apartment in Pentonville and my solicitor is advising me that she has to the mortgage company to reveal incentives from the builder. I am under pressure to sign contracts and I have no desire to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Is there a search tool that I can use to discover of the solicitor carrying out my conveyancing in Pentonville is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Skipton Building Society thus spending £175.00 in further conveyancing bill.
Please do make the most of the find a conveyancing panel solicitor tool on this web page. Please choose the lender and type ‘Pentonville’ or your location and you will discover a number of lawyer located in Pentonville or by proximity to you.
My wife and I purchased a terraced Edwardian house in Pentonville. Conveyancing solicitor acted for me and Aldermore. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Pentonville and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with your conveyancing solicitor who carried out the work.
Just had an offer accepted on a new build apartment in Pentonville. Conveyancing is daunting 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 conveyancing.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Pentonville
Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please confirm the Lease plans are surveyor prepared.
Last April I purchased a leasehold flat in Pentonville. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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 getting anywhere. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Pentonville conveyancing firm to assist?
in cases where there is a absentee landlord or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 it is possible to make an application to the Leasehold Valuation Tribunal to decide the price.
An example of a Lease Extension decision for a Pentonville property is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case related to 1 flat. The unexpired lease term was 66.8 years.
At what stage do I pay the Stamp Duty Land Tax payable for my Pentonville property purchase?
Your solicitor will fill out a Land Transaction Return Form for you as part of your Pentonville conveyancing transaction for signature. On completion your property lawyer will submit your Land Transaction application to the Tax Authorities and - assuming they have the money - discharge any land tax payable on your behalf.