Our solicitor has uncovered a a legal deficiency with the lease for the property we are buying in Ferring and Goring. The other side have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancer has advised that he must be satisfied that the mortgage company is happy with this solution. Who is the client here, us or the lender?

Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their provisions 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 lender are the client. These conveyancing instructions have to be complied with.

What is the optimum way to discover of the solicitor carrying out my conveyancing in Ferring and Goring is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Britannia thus spending £192.00 in another set of legal invoice.

You should take advantage of the find a conveyancing panel solicitor tool on this site. Please choose the mortgage company and type ‘Ferring and Goring’ or your location and you will see numerous conveyancers offices in Ferring and Goring or by proximity to you.

I opted to have a survey completed on a property in Ferring and Goring prior to appointing solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some lenders tend refuse to grant a loan on such a house.

It varies from the lender to lender. Bank of Scotland has different requirements from Nationwide. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ferring and Goring. Conveyancing may be slightly more expensive based on your lender's requirements.

My uncle has encouraged me to instruct his lawyers for conveyancing in Ferring and Goring. Should I use them?

There are no two ways about it it’s preferable to select a conveyancing solicitor is to seek feedback from friends or family who have actually experience in using the firm you're considering.

In relation to leasehold conveyancing in Ferring and Goring what are the most frequent lease problems?

There is nothing unique about leasehold conveyancing in Ferring and Goring. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:

Insurance obligations

A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Skipton Building Society, and Godiva Mortgages Ltd all have express 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, forcing the purchaser to withdraw.

Ferring and Goring Conveyancing for Leasehold Flats - Examples of Queries Prior to buying

What is the name of the managing agents? Is anyone aware of any major works in the near future that could add a premium to the maintenance fees? Please note if it is fewer than 80 years it will affect the marketability of the flat. It is worth checking with your mortgage company that they are willing to lend given the lease term. A short lease means that you will almost definitely have to extend the lease sooner rather than later and it is worth discovering how much this will be. For most Ferring and Goringlease extensions you will need to own the property for two years in order to be entitled to extend the lease.