My lawyer has uncovered a a legal deficiency with the lease for the property we are purchasing in Withernsea. The other side have offered title insurance as a workaround. We are happy with insurance and will cover the costs. Our property lawyer has advised that he must ensure that the bank is happy with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the mortgage company are the client. The appropriate lender specifications must be adhered to.
Can your site be used to recommend a Conveyancing solicitor in Withernsea even if I’m not purchasing or disposing of a house, for example where I want to acquire a shop in Withernsea with a mortgage from Clydesdale?
Our comparison service is mainly utilised to find residential conveyancing solicitors in Withernsea but we have listed at the bottom of this page a selection of Withernsea commercial conveyancing firms. You will need to enquire with the firm directly to check if they can also act for Clydesdale
My lawyer in Withernsea has never been on on the Platform Home Loans Ltd Approved Panel. Is it possible for me to use my family solicitor notwithstanding that they are not on the Platform Home Loans Ltd panel?
Your options are as follows:
- Complete the purchase with your preferred Withernsea lawyers but Platform Home Loans Ltd will need to use a lawyer on their panel. This will result in additional overall legal fees and cause frustration.
- Choose an alternative lawyer to act in the conveyancing, remembering to check they are Platform Home Loans Ltd approved.
- Try to convince your Platform Home Loans Ltd based solicitor to try to join the Platform Home Loans Ltd panel
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one near me in Withernsea I like with a park and transport links in the vicinity, the downside is that it's only got 52 years unexpired on the lease. There is not much else in Withernsea in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan that many years will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
How do I use the search app to locate a conveyancing lawyer in Withernsea on the approved list for my lender?
1st pick a mortgage company such as Barclays , Barnsley Building Society or Bank of Ireland then specify your location a common one being Withernsea. Conveyancing firms in Withernsea and further afield should be identified.
All being well we will complete the disposal of our £375,000 flat in Withernsea in seven days. The landlords agents has quoted £408 for Certificate of Compliance, building insurance schedule and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Withernsea?
For the majority of leasehold sales in Withernsea conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
-
Answering pre-exchange questions
Where consent is required before sale in Withernsea
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I am the registered owner of a leasehold flat in Withernsea, conveyancing formalities finalised 9 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Withernsea with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 levied per year. The lease finishes on 21st October 2094
With just 69 years remaining on your lease the likely cost is going to be between £9,500 and £11,000 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.