Due to complete my purchase in Manor House next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the bank. What risks does the bank expect the insurance to cover?
All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook conditions. These obligations are not specific to conveyancing in Manor House.
We wanted to use a property lawyer in Manor House for our house move. Our financial adviser has since notified us that our mortgage company Lloyds TSB Bank won't deal with them. Why is this not regarded as unduly restrictive?
Lenders tend to imposes restrictions either the type or the volume of conveyancing solicitors on their approved list of lawyers. A common example of such criteria being that a firm must not be a sole practitioner. In addition to restricting the profile of firm, some have reduced the number of solicitor practices they allow to represent them. You should note that Lloyds TSB Bank have no responsibility for the quality of advice provided by any member of Lloyds TSB Bank Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of solicitor panels a few years ago even though there remains mixed views concerning the level of solicitor engagement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms, including some in or near Manor House only conduct very few conveyances per annum.
I'm in the process of looking at flats in Manor House and I am now considering a potential offer. Is it premature to have a solicitor in place? I will be getting a home loan with Yorkshire BS.
You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. Given that you are getting a mortgage with Yorkshire BS, ask your prospective lawyers if they are on the Yorkshire BS conveyancing panel otherwise they can't do the mortgage legal work.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Manor House building society branch on a couple of occasions and was advised it wasn't an issue and they would lend. My Manor House conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend in accordance with their specific requirements. I simply don't know who is right.
Provided that the solicitor is on the mortgage company approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I've digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Manor House solicitor - who is on the Kent Reliance conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Manor House surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
A colleague suggested that where I am buying in Manor House I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Manor House conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Manor House around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Manor House Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Manor House Education with maps and statistics, Local Amenities and other useful data regarding Manor House.
I am a sole trader wishing to lease a unit on a shopping parade. Can you recommend conveyancers offering competitive costs for commercial conveyancing in Manor House for less than 2k?
We are happy to recommend firms who have specialist knowledge of commercial conveyancing in Manor House, including the disposal and purchase of businesses as well as simply premises. If you are intending to buy or dispose of a shop, pub, restaurant, office, retail unit or a whole business we will find you the right solicitor. As for the costs this will depend on the structure and complexity of the deal. Let us have your details or email us so that we can provide you with comprehensive commercial conveyancing calculation.
Harry (my fiance) and I may need to rent out our Manor House garden flat temporarily due to taking a sabbatical. We instructed a Manor House conveyancing practice in 2004 but they have since shut and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Your lease governs the relationship between the freeholder and you the leaseholder; specifically, it will indicate if subletting is banned, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Manor House do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a copy of the tenancy agreement.
Notwithstanding our best endeavours, we have been unsuccessful in seeking a lease extension in Manor House. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a Manor House conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Manor House premises is 51 Lorne Road in November 2009. The price Payable as decided by the tribunal for the freehold reversion was £27,000. The valuation follows the order of the County Court made on 3 April 2008 granting a vesting order. This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 71 years.