My partner and I are buying a newly constructed duplex in Victoria Park and my lawyer is informing me that she has to the bank to reveal incentives from the builder. I am nearing the developer’s deadline to exchange and I don't want to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Victoria Park?
There are many registered licenced Conveyancers in Victoria Park and Solicitor practices in Victoria Park who provide Conveyancing services We would stress that both are regulated professionals specialising in the legal aspects of the home buying process. The two can handle other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I'm the single beneficiary of my late mum's will with all property in now in my sole name, including the house in Victoria Park. Conveyancing formalities meant that the Land Registry date was in December. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership will be considered the same way as if I'd bought the house in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be impacted by that. many banks would take a sensible view as this provision primarily exists to pick up on subsales or the flipping of properties.
After months of negotiation I have agreed a price on an apartment in Victoria Park. My financial adviser recommended their conveyancers. I paid an on account payment of £150. Not long after, the solicitor called me embarrassingly acknowledging that they were not on the Skipton conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Skipton panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I purchased a 4 bedroom Georgian property in Victoria Park. Conveyancing practitioner represented me and Skipton Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold under the exact same address. Is it worth asking Skipton Building Society to clarify?
You need to read 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Victoria Park and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with the conveyancing lawyer who conducted the purchase.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Victoria Park. Conveyancing is necessary evil 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.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Victoria Park
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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.
I today plan to offer on a house that appears to tick a lot of boxes, at a great price which is making it all the more appealing. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are issues purchasing a house with a leasehold title in Victoria Park. Conveyancing lawyers have are about to be appointed. Will they explain the issues?
The majority of houses in Victoria Park are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. We note that you are buying in Victoria Park in which case you should be looking for a Victoria Park conveyancing practitioner and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will report to you on the legal implications.
Victoria Park Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
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It is important to be aware if changing the roof or some other major work is coming up that will be shared by the leaseholders and could well dramatically increase the the maintenance charges or require a specific payment. The best form of lease arrangement is where the freehold interest is in the ownership of the leaseholders. In this arrangement the lessees have control and although a managing agent is usually employed where it is bigger than a house conversion, the managing agent is directed by the tenants. Please tell me if there are any major works in the near future that could add a premium to the service fees?
A licensed conveyancer acted on my conveyancing in Victoria Park 8 years ago and was holding my title documents but has since been shut down – What can I do to get hold of them?
Title deeds, as such, no longer exist as most properties in Victoria Park are recorded digitally at Land Registry. If you need to establish evidence of proprietorship or are disposing of or re-mortgaging your lawyer can obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned as quickly as possible.