My lawyer has uncovered a a legal deficiency with the lease for the property we are buying in West Green. The seller’s lawyers have suggested title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancer has advised that he must check that the bank is content with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications. 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 the registered owner of a freehold premises in West Green yet pay rent, why is this and what is this?
It is rare for properties in West Green and has limited impact for conveyancing in West Green but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I'm buying a new build house in West Green with a loan from Clydesdale. The developers refused to reduce the price so I negotiated 6k of extras instead. The property agent told me not to tell my lawyer about the side-deal as it could put at risk my mortgage with Clydesdale. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Are there any apps to assist me to identify a West Green solicitor on the Birmingham Midshires conveyancing panel? I am a keen cyclist and am willing to travel upto 25miles to meet the solicitor.
You can use the facility on this page. Please pick a bank and your location and you will see a number of West Green conveyancing lawyers based on proximity. We have listed some West Green conveyancing firms at the bottom of this page and you can ring them to see if they are on the Birmingham Midshires member panel
I am 3 weeks into a residential purchase having been recommend to a firm by the estate agent to perform conveyancing in West Green. We are not happy. Could you you assist me in finding new lawyers?
They would need to be really bad in order to consider diss instructing them. Has the mortgage offer been issued? If so you need to make them aware of the new contact details and get the mortgage documents are re-issued. The solicitor ideally needs to be on the lenders approved list to avoid supplemental expenses and complications. So that should be your starting point. The search tool should assist you in finding a lender approved solicitor for your home move in West Green
Expecting to complete next month on a leasehold property in West Green. Conveyancing lawyers assured me that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in West Green 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? Repair and maintenance of the premises What options are open to you if an adjoining owner breaches a clause of their lease? Whether the lease restricts you from renting out the property, or having a home office for business Where does the liability rest for repairing the window frames
Having spent months of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in West Green. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing freeholder or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to assess the price.
An example of a Freehold Enfranchisement decision for a West Green residence is 61 Clinton Road in April 2012. Following a vesting order Clerkenwell and Shoreditch County Court under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993 on 5th July 2011 the Tribunal decided that the price that the Applicant for the freehold interest should pay is £17,000 This case was in relation to 2 flats. The unexpired residue of the current lease was 73.88 years.