Our conveyancer has discovered a a legal deficiency with the lease for the apartment we are buying in Billingham. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor says that he must be satisfied that the lender is happy with this solution. Are we the client or is the bank?
Notwithstanding that you have a mortgage offer from the bank 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 conditions. You and the mortgage company are the client. These conveyancing instructions have to be complied with.
Various internet forums that I have come across warn that are the main cause of delay in Billingham house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Billingham.
About to purchase a new build flat in Billingham. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Billingham
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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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Due to the input of my in-laws I had a survey completed on a house in Billingham prior to retaining conveyancers. I have been told that there is a flying freehold element to the property. My surveyor advised that some lenders may not give a mortgage on such a house.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. Should you wish to call us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Billingham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Billingham to see if the conveyancing costs will increase in light of this.
My wife and I purchased a leasehold house in Billingham. Conveyancing and The Royal Bank of Scotland mortgage are in place. A letter has just been received from someone claiming to own the freehold. It included a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Billingham who acted for me is not around. What should I do?
First make enquiries of the Land Registry to be sure that this person is in fact the new freeholder. You do not need to incur the fees of a Billingham conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Billingham Leasehold Conveyancing - Sample of Queries Prior to buying
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How much is the service charge and ground rent on the property? What is the name of the managing agents? Is anyone aware of any major works in the planning that could add a premium to the maintenance costs?
My partner is purchasing a shared ownership flat in Billingham. He has received an estimate by the conveyancing practitioner connected to the selling agents and it came to £1250 . It was fifteen years ago I sold and bought a home and it cost was £450. Have fees really gone up that much?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Billingham searches, land registry fees, etc)