My partner and I are buying a new build apartment in St Leonard Shoreditch and my conveyancer is advising me that she is duty bound to the mortgage company to reveal incentives from the builder. The Estate Agents are hassling me to sign contracts and I would rather not prolong deal. 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 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.
We're in St Leonard Shoreditch, First time buyers buying with a mortgage (lender is Clydesdale , and our lawyer is on the Clydesdale conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Clydesdale conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Are there restrictive covenants that are commonly identified during conveyancing in St Leonard Shoreditch?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in St Leonard Shoreditch. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Can you provide any top tips for leasehold conveyancing in St Leonard Shoreditch from the perspective of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in St Leonard Shoreditch can be bypassed where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the buyers’ lawyers. If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you installed wooden flooring? Most leases in St Leonard Shoreditch state that internal structural changes or laying down wooden flooring necessitate a licence from the Landlord approving such alterations. Where you fail to have the approvals to hand do not contact the landlord without contacting your conveyancer in advance. If you hold a share in a the freehold, you should make sure that you are holding the original share certificate. Obtaining a duplicate share certificate can be a lengthy formality and frustrates many a St Leonard Shoreditch conveyancing deal. If a duplicate share certificate is required, do contact the company director and secretary or managing agents (where relevant) for this as soon as possible. If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The purchasers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is better to present the dispute as historic rather than unsettled.
Despite our best endeavours, we have been unsuccessful in seeking a lease extension in St Leonard Shoreditch. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Most definitely. We can put you in touch with a St Leonard Shoreditch conveyancing firm who can help.
An example of a Lease Extension case for a St Leonard Shoreditch flat is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case was in relation to 2 flats. The remaining number of years on the lease was 72.39 years.
My sister completed her conveyancing in St Leonard Shoreditch in 2006. She has been married, widowed and in recent months got married again. She intends to market the house in a couple of months. I suspect that she will simply be asked to provide a copy of her marriage papers to the lawyer however she is worried it could delay the house sale. Should she appoint a property lawyer to update the Land Registry details for the property?
It is not absolutely necessary to bring up to date the register on the basis that you have the proof needed to demonstrate how the name change occurred.
The purchaser’s conveyancer should review the registered details and need evidence to establish the change of name for example marriage certificates.