Our conveyancer has uncovered a defect with the lease for the property we are buying in Eden Park. The seller’s lawyers have offered title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancer says that he must be satisfied that the lender is willing to move forward with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions. 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.
We are selling our home in Eden Park. Does the conveyancer have to be on the Coventry BS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
About to purchase a new build flat in Eden Park. Conveyancing is necessary evil 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 is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Eden Park
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
Due to the input of my in-laws I had a survey completed on a property in Eden Park prior to appointing conveyancers. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies will refuse to issue a loan on such a house.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. If you contact us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Eden Park. Conveyancing will be smoother if you use a solicitor in Eden Park especially if they regularly deal with such properties in Eden Park.
In what way does the Landlord & Tenant Act 1954 impact my business property in Eden Park and how can your lawyers assist?
The 1954 Act provides a safeguard to business tenants, giving them the right to make a request to court for a renewal tenancy and remain in occupation when the lease comes to an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and help with commercial conveyancing in Eden Park
Can a conveyancer remove a name from the title of my home in Eden Park ?
Subtracting or adding someone to the title of your house is relatively straightforward. You’ll need to appoint a property lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a conveyancing practitioner