My solicitor has discovered a a problem with the lease for the property we are purchasing in Albrighton. The other side have put forward title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that he must be satisfied that the mortgage company is happy with this solution. Are we the client or is the lender?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their provisions 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 lender are the client. These conveyancing instructions have to be complied with.
Can I use your services to find a Conveyancing solicitor in Albrighton even where I’m not purchasing or selling a house, for example where I want to acquire a shop in Albrighton with a mortgage from The Royal Bank of Scotland?
Our comparison service is primarily there to locate domestic conveyancing solicitors in Albrighton but we have recorded towards the end of this page a selection of Albrighton commercial conveyancing firms. You should speak with the solicitors directly to check if they are also authorised to represent The Royal Bank of Scotland
I have been told that property searches are the number one cause of stalling in Albrighton house deals. 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 amongst the common causes of delays during the legal transfer of property. Searches are unlikely to feature in any holding up conveyancing in Albrighton.
How does conveyancing in Albrighton differ for newly converted properties?
Most buyers of new build premises in Albrighton come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because developers in Albrighton usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Albrighton or who has acted in the same development.
I decided to have a survey carried out on a house in Albrighton in advance of appointing lawyers. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some lenders will not issue a loan on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. If you contact us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Albrighton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Albrighton to see if the conveyancing costs will increase in light of this.
My wife and I purchased a leasehold house in Albrighton. Conveyancing and Aldermore mortgage organised. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Albrighton who acted for me is not around. What should I do?
First make enquiries of HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Albrighton conveyancing lawyer to do this as it can be done on-line for a few pound. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Leasehold Conveyancing in Albrighton - A selection of Questions you should ask before buying
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Most Albrighton leasehold apartments will be liable to pay a service bill for the upkeep of the building invoiced on behalf of the landlord. Should you buy the flat you will have to meet this contribution, usually in instalments during the year. This can vary from two or three hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a ground rent to be met yearly, normally this is not a large figure, say about £25-£75 but you should to enquire it because on occasion it can be prohibitively expensive. How many years remain on the lease? This question is helpful as a) areas could cause problems for the block as the communal areas may start to deteriorate if services remain unpaid b) if the leasehold owners have an issue with the running of the building you will need to have complete disclosure