Our conveyancer has uncovered a defect with the lease for the apartment we are purchasing in Dunholme. The other side have put forward defective title insurance as a solution. We are content with insurance and will pay for it. Our conveyancer says that he must ensure that the bank is willing to move forward with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when acquiring a house in Dunholme?
Unless a prior purchase of the premises took place post 12 October 2013 you may take it that lawyers handling conveyancing in Dunholme to continue to recommend a chancel search and or insurance against a claim.
I used Arc property Solicitors a few years past for my conveyancing in Dunholme. Now, I need the documents however cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Dunholme of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been on the look out for a ground for flat up to £245,000 and identified one round the corner in Dunholme I like with open areas and railway links nearby, however it only has 49 years on the lease. I can't really find anything else in Dunholme in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a home loan that many years will be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
As co-executor for the will of my father I am selling a house in Cardiff but I am based in Dunholme. My conveyancer (approximately 235 kilometers from merequires that I sign a stat dec before the transaction finalising. Could you suggest a conveyancing practitioner in Dunholme to witness this legal document for me?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are located in Dunholme
Last November I purchased a leasehold flat in Dunholme. Am I liable to pay service charges for periods before completion of my purchase?
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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
I own a 2 bed flat in Dunholme, conveyancing having been completed in 2010. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Dunholme with a long lease are worth £255,000. The average or mid-range amount of ground rent is £45 levied per year. The lease comes to an end on 21st October 2099
With just 74 years unexpired the likely cost is going to be between £8,600 and £9,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.