Our lawyer has uncovered a defect with the lease for the flat we are buying in Bethnal Green. The seller’s lawyers have offered title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer says that he must be satisfied that the bank is content with this solution. Who is the client here, us or 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 conditions. You and the bank are the client. These conveyancing instructions have to be complied with.
Can I use your services to recommend a Conveyancing solicitor in Bethnal Green even where I’m not buying or disposing of a house, for example where I intend to acquire a shop in Bethnal Green with a loan from Bank of Ireland?
The service is predominantly utilised to find domestic conveyancing solicitors in Bethnal Green but we have recorded towards the bottom of this page a few Bethnal Green commercial conveyancing firms. You should make contact with the solicitors directly to check if they can also act for Bank of Ireland
A colleague suggested that where I am buying in Bethnal Green I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes included in the estimate for your Bethnal Green conveyancing searches. It is a large report of more than thirty pages, listing and setting out significant information about Bethnal Green around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Bethnal Green Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information about Bethnal Green.
I got the keys to my house on 8 April and the transaction details is not yet registered. Should I be concerned? My conveyancing solicitor in Bethnal Green advises it will be concluded in less than a month. Are transfers in Bethnal Green particularly slow to register?
As far as conveyancing in Bethnal Green is concerned, registration is no quicker or slower than the rest of the country. As opposed to being determined by geographic area, timescales can differ subject to the party submitting the application, whether there are errors and if the Land registry have to notify any other persons or bodies. Currently approximately three quarters of such applications are completed in less than three weeks but some can be subject to protracted delays. Registration is effected after the buyer has moved in to the premises so an expedited registration is not always an essential issue yet where it is urgent that the the registration takes place urgently then you or your solicitor should communicate with the Registry to express the reasoning for the application to be prioritised.
I have been on the look out for a leasehold apartment up to £245,000 and found one near me in Bethnal Green I like with open areas and railway links nearby, the downside is that it only has 49 years unexpired on the lease. There is not much else in Bethnal Green suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage the shortness of the lease may be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.
My husband and I have an offer in principle from Birmingham Midshires who indicated that they will lend up to £300k. At what point do I need to appoint a solicitor for conveyancing? Bethnal Green is where we plan to move to.
It would be wise to instruct a solicitor now requesting that they create a file for you. This will kickstart: 1) the estate agent to send out the Sales Memo to all parties 2) the seller’s conveyancing practitioner to send out the draft agreement. That being said, do not instruct your conveyancer to start searches until you receive your valuation report from Birmingham Midshires and you are willing to proceed.