My lawyer has uncovered a a problem with the lease for the flat we are purchasing in Fenham. The other side have put forward defective title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that he must check that the bank is happy with this solution. Are we the client or is the lender?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the bank are the client. These conveyancing instructions have to be complied with.
I am looking to buy a house and need a conveyancing solicitor in Fenham who is on the Bank of Ireland conveyancing. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Bank of Ireland in certain locations such as Fenham. We dont recommend any particular firm.
Due to the encouragement of my in-laws I had a survey completed on a property in Fenham prior to appointing solicitors. I have been advised that there is a flying freehold overhang to the house. The surveyor advised that some mortgage companies tend not issue a mortgage on a flying freehold home.
It varies from the lender to lender. Lloyds has different requirements for example to Halifax. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Fenham. Conveyancing will be smoother if you use a solicitor in Fenham especially if they are accustomed to such properties in Fenham.
How easy is it to swap firm as I have to appoint a firm on the Santander conveyancing panel. I had appointed a family conveyancing solicitor in Fenham round the corner but she is not approved by Santander
It would be our pleasure to help you find a conveyancing solicitor in Fenham on the Santander panel. Please note that the conveyancers that we list do not pay us a referral fee if you instruct them and are fully regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Fenham. In making use of search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Fenham.
In my capacity as executor for the will of my uncle I am selling a residence in Monmouth but reside in Fenham. My solicitor (who is 200 miles awayhas requested that I execute a stat dec before the transaction finalising. Can you recommend a conveyancing solicitor in Fenham to attest and place their company stamp on the document?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will suffice regardless of whether they are Fenham based
When it comes to leasehold conveyancing in Fenham what are the most frequent lease problems?
Leasehold conveyancing in Fenham is not unique. Most leases are unique and drafting errors can sometimes mean that certain provisions are erroneous. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts.
You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Yorkshire Building Society, Bank of Scotland, and Clydesdale all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.
I acquired a 1 bedroom flat in Fenham, conveyancing having been completed June 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Fenham with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease terminates on 21st October 2079
With only 53 years remaining on your lease the likely cost is going to range between £27,600 and £31,800 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.