My lawyer has identified a defect with the lease for the flat we are buying in Lansbury. The seller’s lawyers have offered title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancer says that he must ensure that the lender is content with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your conveyancing practitioner 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 mortgage company 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 solicitor will have no choice but to discontinue acting for you.
How up to date is your search tool for Lansbury conveyancing solicitors on the Bank of Ireland conveyancing panel? Do Bank of Ireland send you an updated list?
Lansbury conveyancing firms themselves provide us confirmation that they are on the Bank of Ireland conveyancing panel as opposed to being supplied with a list from Bank of Ireland directly.
Me and my brother purchased a 4 bedroom Edwardian house in Lansbury. Conveyancing practitioner acted for me and National Westminster Bank. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold with the exact same address. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Lansbury and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing lawyer who conducted the purchase.
How does conveyancing in Lansbury differ for newly converted properties?
Most buyers of new build property in Lansbury contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is constructed. This is because builders in Lansbury tend to purchase the site, 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 property lawyers 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 used to new build conveyancing in Lansbury or who has acted in the same development.
We're novice buyers - had an offer accepted, but the agent informed us that the owners will only proceed if we appoint the agent's preferred solicitors as they want a ‘quick sale’. We would rather use a family solicitor who is familiar with conveyancing in Lansbury
It is highly unlikely the sellers are behind this. If they want ‘a quick sale', taking such a hostile approach to a genuine purchaser is not the way to achieve this. Try to communicate with the vendors directly and make the point that (a)you are serious buyers (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)but you intend to use your own,trusted Lansbury conveyancing solicitors - not the ones that will earn their estate agent a commission or achieve conveyancing thresholds demanded by senior management.
Having checked my lease I have discovered that there are only 62 years remaining on my flat in Lansbury. I am keen to get lease extension but my landlord is missing. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to demonstrate that you have done all that could be expected to track down the landlord. In some cases an enquiry agent may be useful to try and locate and to produce a report which can be used as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s absence and the vesting order request to the County Court covering Lansbury.
Having spent years of negotiations we cannot agree with our landlord on how much the lease extension should cost for our flat in Lansbury. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Absolutely. We can put you in touch with a Lansbury conveyancing firm who can help.
An example of a Vesting Order and Purchase of freehold decision for a Lansbury flat is Ground Floor Flat 4A Baronet Road in February 2010. Following a vesting order by Edmonton County Court on 23rd December 2008 (case number 8ED064) the Tribunal decided that the price that the Applicant for the freehold interest should pay is £8,689.00 This case related to 2 flats. The unexpired term was 80.01 years.