Our conveyancer has identified a a problem with the lease for the apartment we are buying in Amlwch. The seller’s lawyers have offered defective title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer says that he must be satisfied that the mortgage company is happy with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements. 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 solicitor will have no choice but to discontinue acting for you.
My flat in Amlwch is up for sale and I have accepted an offer. Will my conveyancer have to be required to be on the Leeds Building Society conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Leeds Building Society conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
I used Action Conveyancing several years ago for my conveyancing in Amlwch. Now, I need the documents however the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Amlwch of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Due to the encouragement of my in-laws I had a survey completed on a house in Amlwch prior to retaining lawyers. I have been informed that there is a flying freehold element to the property. My surveyor has said that some mortgage companies will refuse to grant a mortgage on such a property.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Amlwch. Conveyancing will be smoother if you use a solicitor in Amlwch especially if they are familiar with such properties in Amlwch.
Are there common defects that you see in leases for Amlwch properties?
Leasehold conveyancing in Amlwch is not unique. Most leases are unique and drafting errors can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
Service charge per centages that don't add up correctly leaving a shortfall A provision to repair to or maintain elements of the premises
You could have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Chelsea Building Society, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the purchaser to pull out.
Leasehold Conveyancing in Amlwch - A selection of Questions you should ask before buying
Its a good idea to discover as much as possible concerning the company managing the building as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to every day matters like the cleanliness of the common parts. Don't be shy to ask other people whether they are happy with their service. On a final note, find out the dates that you are obliged pay the service charge to the managing agents and precisely what you get for your money. Who manages the block? Can you tell me if there are any major works in the near future that will likely add a premium to the service charges?