I can't travel far from Wembley. Is there a reason why all Wembley conveyancing practitioners aren't included on all bank panels?
Banks highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The dismissal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for mortgage companies to review their conveyancing panels, which triggered a major policy change in the sector. This led to mortgage companies purging a number of firms from their panel of approved lawyers .
I own a freehold premises in Wembley but still charged rent, why is this and what is this?
It is rare for properties in Wembley and has limited impact for conveyancing in Wembley but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
The deeds to our home are lost. The conveyancers who did the conveyancing in Wembley 5 years ago are no longer around. What are my next steps?
Gone are the days when you need to hold title original deeds to evidence that you are the owner of your registered land or premises, as the Land Registry have everything they need in a digital format.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Wembley is the location of the property. Is there any advice you can impart?
Flying freeholds in Wembley are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Wembley you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wembley may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I work for a busy estate agent office in Wembley where we have witnessed a number of flat sales jeopardised as a result of short leases. I have been given inconsistent advice from local Wembley conveyancing solicitors. Please can you confirm whether the seller of a flat can commence the lease extension process for the buyer?
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 proposed purchaser 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 before, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
I am the registered owner of a two-bedroom flat in Wembley. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium due for the purchase of the freehold?
Most certainly. We can put you in touch with a Wembley conveyancing firm who can help.
An example of a Lease Extension case for a Wembley residence is Ground Floor Flat 79 London Road in September 2012. the Tribunal held that the premium payable for the lease extension should be £7,636 This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 74 years.
We are in the process of buying a flat in Wembley. Conveyancing is not over but we would like keep the amount we are are purchasing for confidential from sites such as Zoopla. Is this achievable and how?
The Land Registry are legally bound to reveal price sold information on a register of the title for residential properties nationwide which includes homes in Wembley. The register of title is an open document, so the Land Registry would be breaking the law if they did not permit access to the register.
In essence you can make a request of the Land Registry to withhold the price paid data but the answer would be a No.