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Find a Chilwell Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Chilwell? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Chilwell conveyancing at risk of delay or failure.

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Recently asked questions about conveyancing in Chilwell

I am only a couple days away from an exchange on a property in Chilwell and my mum and dad have transferred the 10% deposit to my solicitor. I am now told that as the deposit has not come from me my property lawyer needs to make a notification to my mortgage company. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I disclosed to the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?

Your conveyancing practitioner is legally required to clarify with mortgage company to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.

About to place an offer on a leasehold apartment in Chilwell. The property agents assure me that it is standard for flats in Chilwell to have less than 75 years left on the lease. I am getting a loan with Chelsea Building Society. Will the property be mortgageable given that the lease has 70 years remaining.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 20/3/2024 the requirements read as follows :

85 years from the date of completion of the mortgage. Please ensure that you explain the implications of a short term lease to the borrower.

How does the Landlord & Tenant Act 1954 affect my commercial offices in Chilwell and how can you help?

The 1954 Act gives security of tenure to commercial lessees, giving them the legal entitlement to make a request to court for a renewal tenancy and remain in occupation when the lease comes to an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and handle your commercial conveyancing in Chilwell

In my capacity as executor for the estate of my uncle I am selling a property in Neath but live in Chilwell. My lawyer (based 300 kilometers from meneeds me to execute a stat dec prior to the transaction finalising. Could you suggest a conveyancing practitioner in Chilwell to attest this legal document for me?

Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are Chilwell based

What are the frequently found problems that you encounter in leases for Chilwell properties?

There is nothing unique about leasehold conveyancing in Chilwell. All leases are unique and drafting errors can sometimes mean that certain sections are wrong. For example, if your lease is missing any of the following, it could be defective:

    Clauses dealing with recovering service charges for expenditure on the building or common parts. Service charge per centages that don't add up correctly leaving a shortfall

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Chelsea Building Society, and Britannia all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.

Chilwell Leasehold Conveyancing - Sample of Queries before Purchasing

    The prefered form of lease arrangement is if the freehold interest is owned by the leaseholders. In this scenario the tenants have being in charge if their destiny and notwithstanding that a managing agent is usually employed if the building is bigger than a house conversion, the managing agent acts for the leaseholders themselves. Make sure you find out if there is anything that is prohibited in the lease. By way of example some leases prohibit pets being permitted in certain buildings in Chilwell. If you love the apartmentin Chilwell however your cat is not allowed to make the move with you then you will be presented with a hard compromise. Are any of leasehold owners in arrears of their service charge payments?

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