It is is a decade since I purchased my house in Godmanchester. Conveyancing lawyers have now been retained on the sale but I am unable to track down the title documents. Is this a major issue?
Don’t worry too much. First the deeds may be kept by the lender or they could stored with the solicitor who oversaw your purchase. Secondly the chances are that the property will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring up to date copy of the land registers. Almost all conveyancing in Godmanchester relates to registered property but in the rare situation where your property is unregistered it adds to the complexity but is not insurmountable.
My Conveyancer in Godmanchester has never been on on the Lloyds TSB Bank Solicitor Panel. Is it possible for me to continue with my prefered solicitor even though they are excluded from the Lloyds TSB Bank approved list?
Your options are as follows:
- Carry on with your existing Godmanchester solicitors but Lloyds TSB Bank will need to use a solicitor on their list of acceptable firms. This will result in additional overall conveyancing charges and cause delays.
- Find an alternative lawyer to act in the purchase, not forgetting to check they are on the Lloyds TSB Bank panel
I have been recommended by a couple of local estate agents in Godmanchester to get a quote from a property lawyer using your seach tool. What’s the financial advantage for Estate Agents to recommend your services over alternative conveyancing organisations?
We refuse to offer any financial incentive for directing people to this site. We thought it would be too underhand to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
What makes a Godmanchester lease problematic?
There is nothing unique about leasehold conveyancing in Godmanchester. All leases are drafted differently and drafting errors can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
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A provision for the recovery of money spent for the benefit of another party. A provision to repair to or maintain elements of the premises
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. Halifax, Barnsley Building Society, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.
Godmanchester Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing
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Are any of leasehold owners in arrears of their service charge liability? Who are the managing agents? Can you inform me if there are any major works on the horizon that will increase the service charges?
Our conveyancer in Godmanchester has identified a a legal deficiency with the lease for the apartment we are purchasing in Godmanchester. The seller’s lawyers have put forward title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that as he is on the lender conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or the bank?
Just because you have a mortgage offer from the mortgage company does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Godmanchester conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the mortgage company are the client. These conveyancing instructions must be adhered to by the mortgage company conveyancing panel who has to balance acting for you and the lender