Our Dorchester On Thames lawyer has spotted a difference between the information in the valuation report and what is revealed within the title deeds. My solicitor informs me that he is duty bound to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my lawyer’s course or action appropriate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am assisting my mother sell her flat in Dorchester On Thames. Does the solicitor arrange an energy performance certificate or it is for me to coordinate?
Following the abolition of Home Information Packs, energy assessments was maintained a mandatory element of selling a property. An energy assessment should be to hand prior to the property being placed on the market. It is not something that solicitors normally arrange. Where you are instructing a Dorchester On Thames conveyancing practitioner they might help arrange EPC’s due to their relationships with long established Dorchester On Thames energy assessors
I can not fathom if my bank requires a lease extension. I have telephoned my Dorchester On Thames bank branch on a couple of occasions and was advised it wasn't an issue and they will lend. My Dorchester On Thames conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they would not lend based on their published requirements. Who do I believe?
The solicitor must follow the Council of Mortgage Lenders’ Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am due to exchange contracts on my flat. I had a double glazing fitted in December 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Santander are being problematic. The Dorchester On Thames solicitor who is on the Santander conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Santander are requiring a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander 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.
What can a local search tell me about the property my wife and I purchasing in Dorchester On Thames?
Dorchester On Thames conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations for example PSG The local search is essential in every Dorchester On Thames conveyancing purchase; that is if you don’t want any nasty surprises after you move into your property. The search should provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
Me and my brother have a renovated Georgian property in Dorchester On Thames. Conveyancing practitioner acted for me and Coventry Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold with the matching address. Is it worth asking Coventry Building Society to clarify?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Dorchester On Thames and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with your conveyancing solicitor who conducted the purchase.
Just had an offer accepted on a new build flat in Dorchester On Thames. 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 legal work.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Dorchester On Thames
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There must be mutual enforceability of lessee’s covenants. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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.
I've recently bought a leasehold house in Dorchester On Thames. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Dorchester On Thames Leasehold Conveyancing - A selection of Queries Prior to Purchasing
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Is the freehold reversion owned jointly by the leaseholders? The best form of lease structure is if the freehold reversion is in the ownership of the leaseholders. In this arrangement the lessees enjoy control and although a managing agent is frequently retained where the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. It is important to be aware if redecorating or some other significant cost is due in the near future to be shared by the leasehold owners and will materially impact the level of the maintenance fees or require a specific invoice.