Our conveyancer has identified a defect with the lease for the flat we are purchasing in Abridge. The other side have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancing practitioner has advised that he must ensure that the bank is willing to move forward with this solution. Are we the client or is the mortgage company ?
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 mortgage company are the client. These conveyancing instructions have to be complied with.
I am buying a end of terrace house in Abridge. The intention is to an extension at the rear at the house.Will legal conveyancing on the property include checks to see if these works are prohibited?
Your solicitor will review the deeds as conveyancing in Abridge will on occasion identify restrictions in the title documents which restrict categories of alterations or need the permission of a 3rd party. Some works need local authority planning permissions and approval in compliance with building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
When it comes to mortgage companies such as Co-operative, do Abridge conveyancers face an annual charge to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I am currently in the process of buying my council flat in Abridge. I have a mortgage offer with Nationwide. Conveyancing is not something I have any knowledge of. 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 Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.
How does conveyancing in Abridge differ for newly converted properties?
Most buyers of new build property in Abridge approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Abridge typically buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Abridge or who has acted in the same development.
I am looking for a flat up to £235,500 and found one round the corner in Abridge I like with a park and transport links in the vicinity, however it only has 51 years on the lease. There is not much else in Abridge for this price, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a home loan that many years will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
In my capacity as executor for the estate of my father I am disposing of a residence in Cardiff but live in Abridge. My lawyer (who is 235 kilometers awayhas requested that I sign a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing practitioner in Abridge to witness this legal document for me?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are based in Abridge