I am expecting a mortgage with Lloyds. My intention is to use a Licensed Conveyancer in Sandy. Does the Lloyds Conveyancing panel allow for conveyancers regulated by the CLC?
The Lloyds conveyancing panel is, like many other lenders, represented by the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
Our lawyer has identified a defect with the lease for the property we are purchasing in Sandy. The other side have suggested title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancing practitioner has advised that he must be satisfied that the mortgage company is happy with this solution. Are we the client or is the lender?
Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their specifications 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. These conveyancing instructions have to be complied with.
It is is a decade since I acquired my house in Sandy. Conveyancing lawyers have recently been retained on the sale but I can't track down the deeds. Will this cause complications?
Don’t worry too much. First there is a chance that the deeds will be kept by the mortgage company or they could be in the possession of the conveyancers who acted in the purchase. Secondly the chances are that the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers procuring current official copies of the land registers. Almost all conveyancing in Sandy involves registered property but in the unlikely event that your property is unregistered it adds to the complexity but is resolvable.
Just acquired a terraced house in Sandy , how long should it take for the Land Registry to deal with the formalities evidencing my title? My Sandy conveyancing solicitor has been painfully slow, so I want to be certain that my name is recorded.
There is nothing unique about conveyancing in Sandy registration formalities. As opposed to being determined by geographic area, timeframes can vary depending on the party submitting the application, whether there are errors and whether the Land registry have to notify any interested persons or bodies. As of today roughly 80% of submission are completed within 12 days but some can be subject to extensive delays. Registration takes place once the new owner has moved in to the premises therefore post completion formalities is not typically primary concern but where it is urgent that the the registration takes place urgently then you or your conveyancer could contact the land registry and explain the circumstances.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Sandy. Conveyancing is daunting 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 legal work.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Sandy
-
There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please confirm the Lease plans are surveyor prepared. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I have been on the look out for a flat up to £195,000 and identified one near me in Sandy I like with a park and station nearby, however it only has 52 years on the lease. I can't really find anything else in Sandy suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the remaining unexpired lease term will be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.