Our solicitor has discovered a a legal deficiency with the lease for the apartment we are purchasing in Whaley Bridge. The other side have suggested defective title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer has advised that he must check that the bank is happy with this solution. Who is the client here, us or the mortgage company ?
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 conveyancing practitioner 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 lawyer will have no choice but to discontinue acting for you.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Whaley Bridge. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 15/4/2024, the requirements read as follows :
I am helping my step-mother sell her flat in Whaley Bridge. Will the solicitor commission an energy assessment or it is for the seller to see to?
After the abolition of Home Information Packs, energy assessments remained a mandatory element of moving house. An energy assessment must be to hand prior to the property being marketed. This is not a task that lawyers normally arrange. If you are using a Whaley Bridge conveyancing practitioner they might be willing to arrange energy assessments given their relationships with long established Whaley Bridge accredited person
Can I be sure that the Whaley Bridge conveyancing solicitor on the Barclays panel is any good?
When it comes to conveyancing in Whaley Bridge getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer carrying out your transaction.
I am due to exchange contracts on my apartment. I had a double glazing fitted in December 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Co-operative are being difficult. The Whaley Bridge solicitor who is on the Co-operative conveyancing panel is recommending indemnity insurance as a solution but Co-operative are requiring a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I opted to have a survey carried out on a house in Whaley Bridge before appointing conveyancers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some banks tend not give a loan on such a house.
It depends who your proposed lender is. Santander has different instructions from Halifax. Should you wish to call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Whaley Bridge. Conveyancing may be slightly more expensive based on your lender's requirements.
We're novice buyers - had an offer accepted, yet the property agent told us that the seller will only issue a contract if we appoint their preferred lawyers as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a high street solicitor with experience of conveyancing in Whaley Bridge
It is highly unlikely the owners are behind this. Should the owner require ‘a quick sale', alienating a genuine purchaser is counter productive. Try to communicate with the owners directly and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you will continue to appoint your preferred Whaley Bridge conveyancing firm - not the ones that will provide the estate agent a introducer fee or meet his conveyancing thresholds pre-set by head office.
Expecting to exchange soon on a basement flat in Whaley Bridge. Conveyancing solicitors inform me that they report fully next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Whaley Bridge should include some of the following:
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You should be advised what constitutes a Nuisance as far as the lease is concerned You should know if the lease permits you to add or upgrade anything in the premises- you must be made aware as to whether any restrictions relates to all alterations or just structural alteration, and whether permission is required The physical extent of the demise. This could be the flat itself but could also incorporate a roof space or storage are if appropriate. Whether your lease caters for for a sinking fund? Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice?
I invested in buying a split level flat in Whaley Bridge, conveyancing was carried out September 2000. Can you work out an approximate cost of a lease extension? Corresponding properties in Whaley Bridge with an extended lease are worth £181,000. The ground rent is £55 yearly. The lease terminates on 21st October 2075
You have 51 years left to run we estimate the price of your lease extension to be between £30,400 and £35,200 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.