We wanted to use a property lawyer in East Twickenham for our home move. Our financial adviser informed us that our bank Bank of Ireland won't deal with them. Surely this is unduly restrictive?
A decade ago most banks had an appetite for risk which was higher than today. Almost all East Twickenham conveyancing firms would have been on most mortgage company panels. The FSA in 2010 conducted a thematic review into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more data from law firms about their operations and their employees as well as set certain criteria such a completing on a minimum amount of transactions. Many East Twickenham conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. East Twickenham is one of the numerous areas where the lawyers showing on our search results are members of the panel for Bank of Ireland.
The estate agent has sent us the confirmation of our purchase of a new build flat in East Twickenham. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in East Twickenham
Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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.
I've recently found out that there is a flying freehold element on a property I have offered on last month in what should have been a simple, no chain conveyancing. East Twickenham is where the house is located. Can you shed any light on this issue?
Flying freeholds in East Twickenham are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside East Twickenham you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in East Twickenham 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 residence.
We're first time buyers - agreed a price, yet the property agent told us that the seller will only proceed if we use their chosen lawyers as they need a ‘quick sale’. Our preferred option is to instruct a local conveyancer who is familiar with conveyancing in East Twickenham
We suspect that the seller is not behind this request. If they desire ‘a quick sale', alienating a serious purchaser is is going to put the whole deal at risk. Speak to the owners direct and make sure they comprehend that (a)you are keen to buy (b)you are ready to go, with finances in place © you are chain free (d) you intend to proceed fast (e)but you intend to instruct your preferred East Twickenham conveyancing lawyers - not the ones that will provide their estate agent a commission or achieve conveyancing targets set by senior management.
Last August I purchased a leasehold property in East Twickenham. Am I liable to pay service charges relating to a period prior to my ownership?
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. It is an essential part 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).
We have reached the end of our tether in trying to purchase the freehold in East Twickenham. Can this matter be resolved via the Leasehold Valuation Tribunal?
if there is a absentee freeholder or if there is dispute about the premium for a lease extension, under the relevant statutes you can apply to the Leasehold Valuation Tribunal to decide the sum to be paid.
An example of a Lease Extension matter before the tribunal for a East Twickenham 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 term was 60.45 years.