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Find a Drybrook Conveyancing Solictior on Your Lender’s Panel

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

Only LenderPanel.com provides a subset of authorised Drybrook conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Drybrook

A relative recommended that where I am purchasing in Drybrook I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?

This is a search is occasionally included in the estimate for your Drybrook conveyancing searches. It is not a small document of more than thirty pages, listing and setting out important information about Drybrook around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Drybrook Education with plans and statistics, Local Amenities and other useful data regarding Drybrook.

I got the keys to my home on 1 January and my personal details is yet to be on the land registry website. Should I be concerned? My conveyancing solicitor in Drybrook advises it would be registered inside ten days. Are titles in Drybrook particularly slow to register?

As far as conveyancing in Drybrook registration is no faster or slower than the rest of the country. As opposed to being determined by geographic area, timescales can differ depending on who lodges the application, whether there are errors and if the Land registry communicate with any interested persons or bodies. As of today in the region of three quarters of such applications are fully dealt with within 12 days but some can be subject to extensive delays. Registration occurs after the buyer is living at the property therefore post completion formalities is not usually an essential issue yet if it is urgent that the the registration takes place urgently then you or your solicitor can communicate with the Registry to express the reasoning for the application to be prioritised.

I decided to have a survey done on a house in Drybrook before retaining conveyancers. I have been told that there is a flying freehold overhang to the property. The surveyor has said that some banks may not give a loan on a flying freehold property.

It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. If you contact us we can check 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 Drybrook. Conveyancing may be slightly more expensive based on your lender's requirements.

I am looking at a two flats in Drybrook both have approximately fifty years unexpired on the leases. should I be concerned?

There are plenty of short leases in Drybrook. The lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the saleability of the lease deteriorates and results in it becoming more expensive to acquire a lease extension. This is why it is generally wise to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on properties of this type. Lease extension can be a difficult process. We advise that you seek professional help from a conveyancer and surveyor with experience in this area.

Leasehold Conveyancing in Drybrook - Sample of Queries Prior to buying

    The majority of Drybrook leasehold flats will have a service charge for the upkeep of the building levied on behalf of the management company. Where you purchase the flat you will have to meet this liability, usually periodically accross the year. This can differ from a few hundred pounds to thousands of pounds for bigger purpose-built buildings. In all likelihood there will be a rentcharge to be met yearly, ordinarily this is not a large sum, say around £50-£100 but you need to enquire it because on occasion it could be prohibitively expensive. Please note that where the lease has less than 80 years it will have adverse implications on the value of the flat. Check with your mortgage company that they are happy with residual term of the lease. A short lease means that you will almost definitely need a lease extension sooner rather than later and it is worth finding out what this will be. For most Drybrooklease extensions you will be required to have owned the premises for a couple of years in order to be legally able to carry out a lease extension. Be sure to investigate if the the lease includes any unreasonable restrictions in the lease. For instance it is very common in Drybrook leases that pets are not allowed in certain buildings in Drybrook. If you love the apartmentin Drybrook but your dog can’t move with you then you have a very difficult compromise.

Our solicitor in Drybrook has identified a a legal deficiency with the lease for the property we are buying in Drybrook. The other side have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer has advised that as he is on the lender conveyancing panel he must be satisfied 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 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.

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Find out more about how flying freehold can affect your the value of a property.