Our conveyancer has discovered a defect with the lease for the property we are buying in Pentre Halkyn. The seller’s lawyers have put forward title insurance as a solution. We are content with insurance and will pay for it. Our property lawyer has advised that he must ensure that the lender is happy with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your solicitor 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 bank 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 conveyancing practitioner will have no choice but to discontinue acting for you.
Have just purchased a repossessed house at auction in Pentre Halkyn. Conveyancing is required. What happens now?
Now that you are for all intents and purposes signed on the dotted line you must find a conveyancing solicitor quickly as you are facing a tight deadline in which to complete the property. Every auction property should have a bespoke auction pack. This will likely include evidence of title and search results. If you have purchased leasehold property the legal papers may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork pertinent to leasehold premises. You must give this to the conveyancer instructed by you at the earliest opportunity. You also need to ensure that that you have the requisite funding organised to complete the transaction on the set completion date.
I recently had an offer accepted on an apartment in Pentre Halkyn. My mortgage broker recommended their conveyancers. I paid an advanced payment of £225. Shortly after, the property lawyer contacted me to say that they were not on the Clydesdale conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Clydesdale panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have instructed a Pentre Halkyn solicitor having made sure that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS 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 Pentre Halkyn 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.
Just had an offer accepted on a new build apartment in Pentre Halkyn. 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 can expect your new-build leasehold conveyancing in Pentre Halkyn
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Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants. Please confirm the Lease plans are architect prepared. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
What does commercial conveyancing in Pentre Halkyn cover?
Commercial conveyancing in Pentre Halkyn incorporates a wide range of advice, offered by qualified solicitors, relating to business property. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
I am looking at a couple of flats in Pentre Halkyn which have approximately 50 years remaining on the leases. Will this present a problem?
A lease is a legal document that entitles you to use the premises for a prescribed time frame. As the lease gets shorter the marketability of the lease reduces and it becomes more expensive to acquire a lease extension. This is why it is often a good idea to increase the term of the lease. More often than not it is difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease extension can be a protracted process. We recommend you get professional help from a solicitor and surveyor with experience in this field.
Pentre Halkyn Conveyancing for Leasehold Flats - A selection of Queries before buying
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How many of the leaseholders are in arrears for their maintenance charge payments? Are there any major works anticipated that could add a premium to the service fees? If a Pentre Halkyn lease has no more than 80 years it will impact the salability of the apartment. Check with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will most likely require a lease extension sooner rather than later and it is worth discovering how much this would cost. For most Pentre Halkynlease extensions you would need to own the property for two years before you are entitled to exercise a lease extension.
I happen to be an executor of my recently deceased mother’s Will, with a property in Pentre Halkyn which will be marketed. The house has never been registered at HMLR and I'm advised that some estate agents will insist that it is in place before they will move forward. What's the mechanism for this?
In the situation that you have set out it seems prudent to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.