Will our lawyer be raising questions concerning flooding as part of the conveyancing in Willesden.
The risk of flooding is if increasing concern for solicitors dealing with homes in Willesden. Some people will buy a property in Willesden, fully aware that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Lawyers are not qualified to offer advice on flood risk, however there are a various searches that can be carried out by the buyer or by their conveyancers which should give them a better understanding of the risks in Willesden. The conventional set of property information forms sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the owner to determine whether the property has ever been flooded. In the event that flooding has previously occurred and is not revealed by the owner, then a buyer could bring a claim for damages stemming from an incorrect answer. The buyer’s conveyancers may also conduct an environmental search. This will disclose if there is a recorded flood risk. If so, more detailed investigations will need to be conducted.
My wife and I have a 4 bedroom Edwardian house in Willesden. Conveyancing lawyer represented me and Chelsea Building Society. I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You should 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 Willesden and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with your conveyancing practitioner who conducted the work.
I opted to have a survey done on a property in Willesden prior to appointing solicitors. I have been advised that there is a flying freehold overhang to the property. The surveyor has said that some banks will not issue a loan on this type of premises.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Willesden. Conveyancing will be smoother if you use a solicitor in Willesden especially if they regularly deal with such properties in Willesden.
We are 14 days into a freehold purchase having been referred to solicitors by the local agent to execute conveyancing in Willesden. I am am very disappointed with the quality of service. Can you you assist me in finding new lawyers?
A solicitor would need to be very bad to suggest diss instructing them. Has the mortgage been generated? If so you must advise them of the new solicitor and have the offer are re-sent. The conveyancer needs to be on the mortgage company panel to avoid escalating expenses and complications. That should be your starting point. Our find a solicitor tool will assist you in finding a bank approved conveyancer for your conveyancing in Willesden
I am hoping to complete next month on a studio apartment in Willesden. Conveyancing solicitors inform me that they are sending me a report within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Willesden should include some of the following:
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Whether your lease has a provision for a sinking fund? What the implications are if you have contravened the provisions of the lease? Who has the liability for maintaining the window frames The unexpired lease term. You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years The total ownership of the property. This will be the property itself but could also include a attic or basement if appropriate.
My wife and I have hit a brick wall in seeking a lease extension in Willesden. Can the Leasehold Valuation Tribunal adjudicate on premiums?
if there is a absentee landlord or if there is dispute about the premium for a lease extension, under the relevant legislation you can apply to the LVT to assess the price payable.
An example of a lease Extension case for a Willesden residence is First Floor Flat 47 Huddlestone Road in December 2010. the Tribunal a valuation of £13,000 for a lease extension having been asked to consider the premium following a vesting order being granted by Willesden County Court On 14th September 2009 This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 71.87 years.
One month into buying a house in Willesden. Conveyancing solicitor has told us the title is "Leasehold". Will this likely make a difference on our mortgage valuation?
Willesden conveyancing does not usually involve leasehold houses. The main consideration here is the length of lease and the ground rent. If there are over a hundred years remaining with a nominal rent, it's virtually freehold, so it shouldn't impact the value significantly.
At the other end of the spectrum, if it's, say, Sixty years it is bound to have a material impact on the saleability, and most likely wouldn't be acceptable to the lender. The length of lease and ground rent will be set out in the lease which should be made available to your conveyancer.