My mortgage broker requires my Ditchling lawyer’ panel reference for the Nat West conveyancing panel. Can you suggest how I obtain this. I have tried my local Ditchling branch but they cant find it on their system.
You are best placed to get this information from your Ditchling conveyancer . They maintain a central record lender panel numbers.
I have just over seventy years left on my lease and require a lease extension for my apartment in Ditchling. Conveyancing solicitors on the Chelsea Building Society panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining 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 10/12/2018 the requirements read as follows :
My brother has encouraged me to appoint his conveyancers in Ditchling. Should I choose my own property lawyer?
No doubt the ideal way to find a conveyancing lawyer is to seek guidance from friends or relatives who have actually used the conveyancer that you are considering.
Are there frequently found deficiencies that you come across in leases for Ditchling properties?
Leasehold conveyancing in Ditchling is not unique. Most leases are individual and legal mistakes in the legal wording can result in certain sections are wrong. The following missing provisions could result in a defective lease:
A provision for the recovery of money spent for the benefit of another party. Insurance obligations
You may encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd 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 is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.
Ditchling Leasehold Conveyancing - Examples of Questions you should ask Prior to buying
If a Ditchling lease has less than 80 years it will have adverse implications on the salability of the flat. It is worth checking with your bank that they are content with remaining years on the lease. A short lease means that you will almost definitely have to extend the lease at some point and you need to have some idea of what this would cost. For most Ditchlinglease extensions you will need to own the property for a couple of years before you are entitled to exercise a lease extension. What is the yearly maintenance fee and ground rent? Who takes responsibility for maintaining and repairing the building?
Our solicitor in Ditchling has discovered a a problem with the lease for the property we are purchasing in Ditchling. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer says that as he is on the mortgage company conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender 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 lender 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.