My lawyer has discovered a a legal deficiency with the lease for the property we are purchasing in Ottershaw. The seller’s lawyers have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer says that he must ensure that the bank 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 bank are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank 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 conveyancing practitioner will have no choice but to discontinue acting for you.
We are buying a detached bungalow in Ottershaw. We would like to an extension at the rear at the house.Will legal investigations on the property include checks to see if these works are permitted?
Your solicitor should review the deeds as conveyancing in Ottershaw can occasionally reveal restrictions in the title documents which restrict certain alterations or necessitated the consent of a 3rd party. Certain additions require local authority planning consent and approval in compliance with building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these things with a surveyor ahead of any purchase.
Does a directory service exist listing Santander panel conveyancers in Ottershaw on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association websites. Very few mortgage companies make their panel listings available online. Where you are looking for a Ottershaw lawyer on the Santander please use our facility.
My wife and I have arranged the release of further funds on our mortgage from HSBC as we intend to carry out alterations to our property in Ottershaw. Are we obliged to choose a local Ottershaw solicitor on the HSBC conveyancing panel to handle the paperwork?
HSBC would not normally appoint firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC conveyancing panel.
Various internet forums that I have frequented warn that are the primary reason for hinderance in Ottershaw conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances in the conveyancing process. Searches are unlikely to feature in any delay in conveyancing in Ottershaw.
About to purchase a new build flat in Ottershaw. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Ottershaw
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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. 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. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants.
Do I need to be wary by estate agents that I am dealing with are encouraging me to use a national conveyancing firm rather than a High Street Ottershaw conveyancing firm?
As is the case with lots of service providers, often suggestions from family and friends can be extremely useful or valuable. Nevertheless there are lots of players in a conveyancing deal; estate agents, mortgage brokers and lenders may suggest solicitors to choose. On occasion these lawyers might be known to one of the organisations as one of the best in their field, but occasionally there may be a financial incentive behind the recommendation. You are at liberty to select your preferred conveyancer. You need to be aware that the majority of mortgage providers have an approved list of solicitors you must use for the mortgage aspect of your transaction.
My wife and I purchased a leasehold house in Ottershaw. Conveyancing and Bank of Scotland mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Ottershaw who previously acted has long since retired. Do I pay?
First contact the Land Registry to make sure that this person is indeed the new freeholder. It is not necessary to instruct a Ottershaw conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Ottershaw Leasehold Conveyancing - Examples of Questions you should consider Prior to buying
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Is the freehold reversion owned collectively by the tenants? How much is the ground rent and service charge? It is important to be aware whether a new roof is being put on or some other significant cost is due shortly that will be shared amongst the leasehold owners and could well dramatically impact the level of the maintenance costs or require a specific invoice.