Our lawyer has uncovered a a legal deficiency with the lease for the property we are buying in Hampden Pk. The other side have offered defective title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer has advised that he must be satisfied that the bank is willing to move forward with this solution. Who is the client here, us or the lender?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their conditions 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.
What does my ID and proof of funds have anything to do with my conveyancing in Hampden Pk? What am I being asked for?
Hampden Pk conveyancing solicitors and indeed property practitioners throughout the UK have an obligation under money laundering regulations to verify the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients are required to produce two forms of certified identification; proof of ID (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill less than 3 months old).
Evidence of source of monies is also necessary in compliance with the money laundering regulations as solicitors are required to investigate that the monies you are utilising to purchase a property (be it the exchange deposit or the total purchase price if you are buying mortgage free) has come from an acceptable source (such as employment savings) and is not the proceeds of criminal behaviour.
I am buying a new build apartment in Hampden Pk. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Hampden Pk
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. Forfeiture - bankruptcy or liquidation must not apply under this provision. 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. There must be mutual enforceability of lessee’s covenants.
What tools are available to identify a Hampden Pk law firm on the Virgin Money conveyancing panel? I am a keen cyclist and am prepared to travel upto 20kilometers to meet the conveyancer.
You can use the facility on this page. Please choose the mortgage company and your location and you will see a number of Hampden Pk conveyancing lawyers based on proximity. We have listed some Hampden Pk conveyancing firms towards the end of this page and you can contact them to check whether they are on the Virgin Money approved list
I wish to rent out my leasehold apartment in Hampden Pk. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Some leases for properties in Hampden Pk do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
Hampden Pk Leasehold Conveyancing - Examples of Queries before Purchasing
Can you tell me if there are any major works on the horizon that will add a premium to the service charges? On the whole the outlay for major works are not included within maintenance charges, albeit that a few managing agents in Hampden Pk ask leaseholders to contribute towards a sinking fund created for the specific intention of establishing a fund for larger works. Most Hampden Pk leasehold flats will have a service bill for maintenance of the block invoiced on behalf of the freeholder. Where you buy the flat you will have to meet this amount, usually in instalments accross the year. This may be anything from a couple of hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a ground rent to be met yearly, ordinarily this is not a exorbitant amount, say about £25-£75 but you should to enquire it because on occasion it can be many hundreds of pounds.
I note that you have a post code search directory listing solicitors on the bank conveyancing panel. Do Hampden Pk conveyancing companies pay you a commission if I instruct them for my conveyancing?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Hampden Pk.