Our conveyancer has discovered a a problem with the lease for the apartment we are buying in Chaddesden. The other side have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our property lawyer has advised that he must check that the bank is content with this solution. Are we the client or is the lender?
Even though you have a mortgage offer from the lender does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. The appropriate lender requirements must be adhered to.
Having sold my house in Chaddesden last September yet the purchaser is e-mailing daily to say his solicitor is waiting to hear from mine. What should have happened following completion?
After completion of your house sale your conveyancer is obliged to send the transfer documentation and all supplemental paperwork to the buyer’s lawyers. Depending on the transaction, your lawyer should also confirm that the mortgage has been redeemed to the purchasers lawyers. There are no post completion formalities just for conveyancing in Chaddesden.
I have a decision in principle. The bank mentioned the home loan came with free conveyancing. Does this mean I have to use their panel solicitor as I would prefer to instruct a high street conveyancing solicitor in Chaddesden?
You should check but the the likelihood is that appoint one of their panel solicitors if you want the "fee-free" deal. Contact the lender and determine if they offer you a cash alternative. In the past a few lenders offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor near Chaddesden.
Should commercial conveyancing searches reveal impending roadworks that could impact a commercial site in Chaddesden?
Its becoming the norm that commercial conveyancing solicitors in Chaddesden will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Chaddesden. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Chaddesden.
For every commercial conveyancing transaction in Chaddesden it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can cause delays to Chaddesden commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Chaddesden.
About to purchase a new build apartment in Chaddesden. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Chaddesden
Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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. Please confirm the Lease plans are architect prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Due to the input of my in-laws I had a survey completed on a house in Chaddesden ahead of retaining solicitors. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some lenders tend not issue a mortgage on a flying freehold house.
It depends who your proposed lender is. Santander has different instructions from Birmingham Midshires. Should you wish to call us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Chaddesden. Conveyancing may be slightly more expensive based on your lender's requirements.