Are you able to recommend a Nottingham Building Society allowed Borrowash conveyancing firm who can have us moved in within under 3 weeks? Would it be better to use a high street Borrowash conveyancer or a factory type conveyancer?

We can recommend some very good Borrowash conveyancing firms. You can also walk up the main road in Borrowash. Go in to a couple of firms and request to see a conveyancing solicitor for a quote. Explain your requirements together with your reasons and get a commitment on speed. Appoint the one that you are most comfortable with.

I need some quick conveyancing in Borrowash as I have pressure to sign on the dotted line within 3 weeks. A mortgage is not required. Can I avoid the conveyancing searches to save fees and time?

As you are not taking a mortgage you have the choice not to do searches although no law firm would suggest that you don't. Drawing on our experience of conveyancing in Borrowash the following are examples of issues that can appear and adversely impact future mortgageability: Enforcement Actions, Outstanding Charges, Overdue Grants, Railway Schemes,...

Over the last few months I have been searching for a flat up to £305k and found one close by in Borrowash I like with amenity areas and station in the vicinity, however it's only got 51 remaining years left on the lease. I can't really find anything else in Borrowash in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?

Should you need a mortgage that many years may be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.

What makes a Borrowash lease problematic?

There is nothing unique about leasehold conveyancing in Borrowash. Most leases are individual and drafting errors can sometimes mean that certain provisions are erroneous. For example, if your lease is missing any of the following, it could be defective:

Maintenance charge proportions which don’t add up to the correct percentage Clauses dealing with recovering service charges for expenditure on the building or common parts.

A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Norwich and Peterborough Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.

Borrowash Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing

Please note that where the lease has no more than eighty years it will have adverse implications on the salability of the apartment. Check with your lender that they are happy with the length of the lease. A short lease means that you will probably have to extend the lease sooner rather than later and you need to have some idea of how much this would cost. Remember, in most cases you would need to own the property for 24 months before you are eligible to extend the lease. This question is helpful as a) areas can cause problems for the block as the common areas may begin to deteriorate if repairs are not paid for b) if the leasehold owners have an issue with the managing agents you will need to have all the details Who is in charge of the block?

Our lawyer in Borrowash has discovered a a legal deficiency with the lease for the property we are purchasing in Borrowash. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor says that as he is on the mortgage company conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the mortgage company?

The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the mortgage company 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.