Our conveyancer has uncovered a defect with the lease for the property we are purchasing in Canvey Island. The seller’s lawyers have suggested defective title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancer says that he must ensure that the bank is willing to move forward with this solution. Who is the client here, us or the bank?
Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. These conveyancing instructions must be adhered to.
What will a local search tell me concerning the house we're purchasing in Canvey Island?
Canvey Island conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search company for example PSG The local search plays a central role in most Canvey Island conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your new home. The search will supply data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Canvey Island. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Canvey Island
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? Please supply a car parking plan. Please confirm the Lease plans are architect prepared.
I opted to have a survey done on a house in Canvey Island before instructing lawyers. I have been informed that there is a flying freehold overhang to the house. My surveyor has said that some lenders tend refuse to give a mortgage on such a home.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. If you e-mail us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Canvey Island. Conveyancing may be slightly more expensive based on your lender's requirements.
My partner has encouraged me to use his lawyers for conveyancing in Canvey Island. Should I choose my own conveyancer?
No doubt the ideal way to find a conveyancing solicitor is to have feedback from friends or relatives who have experience in using the solicitor you're considering.