My partner and I are buying a new build apartment in Mitcham and my lawyer is telling me that she has to the mortgage company to reveal incentives from the seller. I am on a tight deadline to sign contracts and I have no desire to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
The Mitcham conveyancing firm that just started acting on my purchase in Mitcham have suddenly shut down. I chose them because I had to have a solicitor on the TSB conveyancing panel and my family Mitcham lawyer was not. I paid them 275 plus VAT in advance. What are my options?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the TSB conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
Will my conveyancer be raising enquiries concerning flooding during the conveyancing in Mitcham.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Mitcham. Some people will acquire a house in Mitcham, fully aware that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, however there are a numerous searches that may be undertaken by the purchaser or by their solicitors which can give them a better appreciation of the risks in Mitcham. The standard property information forms supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual question of the seller to determine whether the premises has suffered from flooding. If the residence has been flooded in past and is not revealed by the seller, then a purchaser may bring a legal claim for losses as a result of such an inaccurate answer. A purchaser’s conveyancers will also commission an enviro report. This should reveal whether there is a recorded flood risk. If so, further inquiries will need to be initiated.
Just had an offer accepted on a new build apartment in Mitcham. Conveyancing is a frightening process 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 conveyancing.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Mitcham
There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
Helen (my wife) and I may need to sub-let our Mitcham basement flat temporarily due to a career opportunity. We used a Mitcham conveyancing practice in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
The lease dictates relations between the landlord and you the leaseholder; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Mitcham do not contain strict prohibition on subletting – such a provision would undoubtedly devalue the property. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
Following years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Mitcham. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
You certainly can. We can put you in touch with a Mitcham conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Mitcham premises is 50 & 52 Southcroft Road in September 2013. The tribunals own valuation determined that the premium payable should be £29,000 This case affected 2 flats. The unexpired lease term was 86.11 and 60.64.