Our conveyancer has uncovered a defect with the lease for the flat we are buying in Portslade. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer says that he must be satisfied that the lender is content with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender 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.
My lender has recommended a law firm on their panel based in Portslade but I would rather use a conveyancing lawyer in Portslade or nearer to where I live. Are you able to help?
Far from all Portslade conveyancing firms are listed all banks conveyancing panel. Do make use of our find an approved solicitor tool to locate a Portslade conveyancing firm on the on the lender panel.
My bid for a property was accepted at auction in Portslade. Conveyancing is required. What is next?
Now that you have exchanged you must instruct a conveyancing practitioner soon as you now have a fast approaching a fixed date to complete the property. Every auction property will have an associated legal set of papers. This should include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the conveyancing papers should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You need to pass this on to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.
I have paid off my mortgage with TSB. I assume I don't need a Portslade solicitor on the TSB panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your TSB mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the TSB mortgage from the register. TSB, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Portslade. I have a mortgage agreed with Barclays. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
Are there restrictive covenants that are commonly identified during conveyancing in Portslade?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Portslade. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Is it possible to swap solicitor as I have to instruct one who is on the Chelsea Building Society conveyancing panel. I had appointed a high street conveyancing solicitor in Portslade round the corner but the firm is not approved by Chelsea Building Society
It would be our pleasure to help you find a conveyancing solicitor in Portslade on the Chelsea Building Society panel. Please note that the property lawyers that we work with do not pay us a referral fee if you instruct them and are fully regulated by the SRA who oversee all conveyancing solicitors in Portslade. Using the find a conveyancing solicitor tool on this site, you can compare charges for conveyancing solicitors in Portslade and throughout England and Wales.
I’m about to sell my ground floor apartment in Portslade. Conveyancing lawyers have not yet been instructed, but I have just had a yearly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should discharge the maintenance contribution as usual because all ground rent and maintenance charges should be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I inherited a studio flat in Portslade, conveyancing was carried out 6 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Portslade with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 per annum. The lease finishes on 21st October 2080
With just 56 years remaining on your lease the likely cost is going to span between £29,500 and £34,000 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.