My conveyancer has uncovered a a legal deficiency with the lease for the flat we are purchasing in Irlam. The other side have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancing practitioner has advised that he must check that the lender is happy with this solution. Who is the client here, us or the bank?
Even though you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the bank are the client. The appropriate lender specifications must be adhered to.
I used Arc property Solicitors several years ago for my conveyancing in Irlam. I now require my file but cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing 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 Irlam 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.
How does conveyancing in Irlam differ for newly converted properties?
Most buyers of new build residence in Irlam contact us having been asked by the developer to exchange contracts and commit to the purchase even before the house is built. This is because developers in Irlam usually buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Irlam or who has acted in the same development.
I have been on the look out for a ground for flat up to £195,000 and identified one round the corner in Irlam I like with amenity areas and railway links nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Irlam suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan the shortness of the lease may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property 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 and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
As co-executor for the will of my grandmother I am disposing of a residence in Neath but reside in Irlam. My conveyancer (approximately 250 kilometers from meneeds me to execute a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing lawyer in Irlam who can witness and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are Irlam based
All being well we will complete the disposal of our £225,000 garden flat in Irlam in 8 days. The management company has quoted £396 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Irlam?
Irlam conveyancing on leasehold flats often requires the buyer’s lawyer submitting questions for the landlord to answer. Although the landlord is under no legal obligation to respond to these enquiries most will be content to do so. They may charge a reasonable administration fee for responding to questions or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is £350, in some transactions it is above £800. The administration charge required by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration fees, without which the charge is not strictly payable. Reality however dictates that one has little option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
Irlam Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing
-
This question is important as a) areas may cause problems in the block as the common areas may start to deteriorate where services are not paid for b) if the leaseholders have an issue with the managing agents you will wish to know about it Please note that where the lease has no more than 80 years it will impact the value of the property. It is worth checking with your lender that they are content with remaining years on the lease. A short lease means that you will probably require a lease extension at some point and it is worth finding out what this will be. For most Irlamlease extensions you will need to own the residence for 24 months before you are eligible to carry out a lease extension. Are there any major works on the horizon that will likely add a premium to the service charges?