I am buying a brand new duplex in Fulwell and my lawyer is informing me that she is duty bound to the lender to disclose incentives from the developer. I am nearing the developer’s deadline to exchange contracts and my preference is not to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I opted to have a survey completed on a property in Fulwell in advance of retaining conveyancers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some mortgage companies may refuse to give a loan on this type of property.
It depends who your proposed lender is. Santander has different instructions from Birmingham Midshires. If you 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 accustomed to dealing with flying freeholds in Fulwell. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Fulwell to see if the conveyancing will be more expensive.
I have been advised by numerous selling agents in Fulwell to choose a conveyancer on your site. Is there a financial advantage for Estate Agents to offer your services over another?
We refuse to make any financial incentive for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission because home movers will think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
My husband and I are FTB’s - agreed a price, but the estate agent told us that the vendor will only proceed if we instruct their recommended lawyers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a local solicitor who is familiar with conveyancing in Fulwell
We suspect that the seller is not behind this demand. If they require ‘a quick sale', taking such a hostile approach to a genuine buyer is likely to cause more damage than good. Try to communicate with the vendors directly and explain that (a)you are genuine buyers (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)however you will continue to use your preferred Fulwell conveyancing firm - not the ones that will give their negotiator at the agency a commission or meet his conveyancing thresholds set by corporate headquarters.
My wife and I purchased a leasehold house in Fulwell. Conveyancing and Barclays mortgage organised. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Fulwell who previously acted has long since retired. What should I do?
The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the new freeholder. There is no need to incur the fees of a Fulwell conveyancing firm to do this as you can do this on the Land Registry website for £3. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
After months of correspondence we simply can't agree with our landlord on how much the lease extension should cost for our flat in Fulwell. Can we issue an application to the Residential Property Tribunal Service?
Absolutely. We can put you in touch with a Fulwell conveyancing firm who can help.
An example of a Lease Extension case for a Fulwell residence 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 number of years remaining on the existing lease(s) was 60.45 years.