My lawyer has discovered a a problem with the lease for the apartment we are purchasing in Grays. The other side have offered title insurance as a solution. We are content with insurance and will pay for it. Our solicitor has advised that he must be satisfied that the lender is happy with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with 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 property lawyer will have no choice but to discontinue acting for you.
What can a local search tell me regarding the house my wife and I buying in Grays?
Grays conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations for example Searchflow The local search plays a central role in most Grays conveyancing purchase; that is if you don’t want any nasty once you have moved into your property. The search should supply data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
The deeds to my property can not be found. The solicitors who conducted the conveyancing in Grays 4 years ago have long since closed. What are my next steps?
Assuming you have a registered title the details of your proprietorship will be evidenced by HMLR with a Title Number. It is possible to conduct a search at the Land Registry, find your house and get up to date copies of the property title for less than a fiver. Where the title is Leasehold then the Land Registry will usually hold a certified duplicate of the Registered Lease and again, a copy can be obtained for twenty pounds.
As co-executor for the will of my grandfather I am selling a residence in Swansea but live in Grays. My conveyancer (who is 260 miles awayneeds me to execute a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing practitioner in Grays who can witness and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are Grays based
After months of correspondence we cannot agree with our landlord on how much the lease extension should cost for our flat in Grays. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We can put you in touch with a Grays conveyancing firm who can help.
An example of a Lease Extension case for a Grays premises is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The unexpired term was 76 years.
What makes a Grays lease unmortgageable?
There is nothing unique about leasehold conveyancing in Grays. All leases are drafted differently and drafting errors can result in certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
A provision to repair to or maintain parts of the property Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Coventry Building Society, and Aldermore all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.