All was ready to move into my new home in Brentwood next Friday. My conveyancer now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the lender. What risks does the mortgage company expect the insurance to cover?
Any lawyer on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook conditions. These obligations are not limited to conveyancing in Brentwood.
What happens if my solicitor is suspended from the Barclays Solicitor panel ahead of completing my conveyancing in Brentwood?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I am helping my aunt sell her house in Brentwood. Does the conveyancing solicitor arrange an EPC or it is for the seller to coordinate?
After the demise of Home Information Packs, EPC’s was retained a compulsory component of selling a property. An energy performance certificate needs to be commissioned before the property is advertised. This is not something that solicitors ordinarily arrange. Where you are using a Brentwood conveyancing lawyer they might be able to arrange energy assessments due to their relationships with reputable Brentwood assessors
I am expecting a AIP from Santander this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Santander recommend any Brentwood solicitors on the Santander conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Brentwood solicitors independently although you'll need to choose one on the Santander conveyancing panel. The solicitor represents both you and Santander through the process.
I have today made my last payment due on my mortgage with Yorkshire BS. I assume I don't need a Brentwood lawyer on the Yorkshire BS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
I am looking for a ground for flat up to £245,000 and identified one close by in Brentwood I like with a park and station nearby, however it's only got 49 years unexpired on the lease. There is not much else in Brentwood suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you need a mortgage the shortness of the lease will likely be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
Back In 2005, I bought a leasehold house in Brentwood. Conveyancing and Santander mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. Attached was a demand for arrears of ground rent dating back to 1993. The conveyancing solicitor in Brentwood who acted for me is not around. What should I do?
First contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Brentwood conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I have tried to negotiate informally with with my landlord for a lease extension without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Brentwood conveyancing firm to represent me?
in cases where there is a missing landlord or if there is dispute about what the lease extension should cost, under the relevant legislation you can apply to the First-tier Tribunal (Property Chamber) to judgment on the amount due.
An example of a Lease Extension matter before the tribunal for a Brentwood property is 37 Lodge Court High Street in November 2013. the decision of the LVT was that the premium to be paid for the new lease was £25,559 This case affected 1 flat. The unexpired term was 57.5 years.
Our conveyancer in Brentwood has identified a a legal deficiency with the lease for the flat we are purchasing in Brentwood. The seller’s lawyers have put forward defective title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer says that as he is on the bank conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the bank?
Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Brentwood conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. The appropriate lender requirements have to be complied with by the mortgage company conveyancing panel who has to balance acting for you and the lender