Our lawyer has discovered a a problem with the lease for the flat we are purchasing in Deanshanger. The other side have offered title insurance as a solution. We are happy with insurance and will pay for it. Our property lawyer has advised that he must ensure that the lender is content with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I am close to exchanging contracts on the sale of our home in Deanshanger and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any high street Deanshanger lawyer would know this is not the case. For the life of me I don't know why the buyers instructed an online conveyancing outfit as opposed to a conveyancing solicitor in Deanshanger. We have lived in Deanshanger for 5 years we know that this is a non issue. Do we contact our local Authority to seek clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I moved into my house on 14 August and my personal details is yet to be on the land registry website. Need I be worried? My conveyancing solicitor in Deanshanger advises it should be dealt with in less than a month. Are transfers in Deanshanger particularly slow to register?
As far as conveyancing in Deanshanger is concerned, registration is no quicker or slower than anywhere else in the country. As opposed to being determined by geographic area, timescales can differ depending on the party submitting the application, whether it is in order and if the Land registry must send notices to any third parties. Currently in the region of 80% of submission are completed within 12 days but occasionally there can be protracted delays. Registration takes place once the purchaser has moved in to the premises so 'speed' is not typically primary concern yet where it is urgent that the the registration takes place urgently then you or your lawyers can speak with the land registry and explain the circumstances.
The estate agent has sent us the confirmation of our purchase of a new build flat in Deanshanger. 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 conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Deanshanger
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Please confirm the Lease plans are surveyor prepared. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please supply a car parking plan. 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 house I have offered on last month in what should have been a straight forward, no chain conveyancing. Deanshanger is the location of the property. Can you offer any guidance?
Flying freeholds in Deanshanger are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Deanshanger you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Deanshanger may ascertain 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 property.
Looking forward to sign contracts shortly on a leasehold property in Deanshanger. Conveyancing solicitors assured me that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Deanshanger should include some of the following:
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Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? You should have a good understanding of the insurance obligations Additions to the premises The total extent of the premises. This may be the apartment itself but could also incorporate a attic or basement if applicable.
I inherited a basement flat in Deanshanger, conveyancing having been completed in 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Deanshanger with over 90 years remaining are worth £216,000. The average or mid-range amount of ground rent is £50 levied per year. The lease expires on 21st October 2092
With just 68 years remaining on your lease we estimate the premium for your lease extension to range between £9,500 and £11,000 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.