Our conveyancer has discovered a defect with the lease for the property we are buying in Dockland Settlement. The other side have put forward defective title insurance as a solution. We are content with insurance and will pay for it. Our property lawyer has advised that he must check that the mortgage company is willing to move forward with this solution. Are we the client or is the mortgage company ?
Notwithstanding that 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 conditions. You and the lender are the client. The appropriate lender conditions must be adhered to.
I am buying a property and require a conveyancing solicitor in Dockland Settlement who is on the HSBC Bank conveyancing. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for HSBC Bank in certain locations such as Dockland Settlement. We dont recommend any particular firm.
I have a mortgage with Kent Reliance for my property in Dockland Settlement. Conveyancing has been completed a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Kent Reliance?
You must advise Kent Reliance prior to renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. It should not be necessary to do this via a Kent Reliance conveyancing panel firm.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Dockland Settlement bank branch on a couple of occasions and was told they are content with the situation and they would lend. My Dockland Settlement conveyancing solicitor - who is on the lender conveyancing panel- called to say that they would not lend in accordance with their published requirements. I have no idea who is right.
The property lawyer must follow the Council of Mortgage Lenders’ Handbook section two provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am due to exchange contracts on my apartment. I had a double glazing fitted in July 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Bank of Ireland are being a right pain. The Dockland Settlement solicitor who is on the Bank of Ireland conveyancing panel is recommending indemnity insurance as a solution but Bank of Ireland are insisting on a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I am looking for a ground for flat up to £305k and identified one near me in Dockland Settlement I like with amenity areas and transport links nearby, however it only has 49 years unexpired on the lease. I can't really find anything else in Dockland Settlement suitable, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term will likely be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
Expecting to exchange soon on a leasehold property in Dockland Settlement. Conveyancing lawyers have said that they will have a report out to me on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Dockland Settlement should include some of the following:
Details of the parties to the lease, for example these could be the tennant, superior lessor, landlord The total extent of the premises. This could be the flat itself but may incorporate a loft or cellar if relevant. You must be informed what counts as a Nuisance as far as the lease is concerned The landlord’s rights to access the premises. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Responsibility for repairing the window frames
I have attempted and failed to negotiate with my landlord for a lease extension without success. Can one make an application to the Leasehold Valuation Tribunal? Can you recommend a Dockland Settlement conveyancing firm to help?
You certainly can. We are happy to put you in touch with a Dockland Settlement conveyancing firm who can help.
An example of a Lease Extension case for a Dockland Settlement residence is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case was in relation to 2 flats. The number of years remaining on the existing lease(s) was 72 years.
Me and my fiance have just had an offer accepted on a apartment and had meeting on Wednesday with Leeds Building Society for the mortgage. They warned us that when it comes to selecting a lawyer that unless they are on their approved panel of solicitors then we will have to pay out an extra charge of £200. This is is due to the fact that they would then have to appoint a solicitor to act for them in addition to the one we appoint for ourselves and we will be on the hook for their invoice. I have requested Leeds Building Society to supply me with a list so I can request estimates only from their approved solicitors but was told they dont have such a list to hand over. What would be the best way of going about this?
You can enquire of Leeds Building Society what their criteria for panel membership is for a solicitor.Then ask the solicitor of your choice whether they fit that criteria and have they acted on loans for Leeds Building Society historically. Where the answer to those is yes, then just double check with Leeds Building Society. Alternatively please make use of our search tool and we may be able to identify a property lawyer in Dockland Settlement on the approved list for Leeds Building Society.