My solicitor has uncovered a a legal deficiency with the lease for the apartment we are purchasing in Hedon. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will pay for it. Our property lawyer has advised that he must check that the bank is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions. 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.
My Solicitor in Hedon is not on the Skipton Building Society Approved Panel. Is it possible for me to continue with my prefered solicitor even though they are excluded from the Skipton Building Society approved list?
Your options are as follows:
- Carry on with your preferred Hedon lawyers but Skipton Building Society will need to use a lawyer on their list of acceptable firms. This will result in additional overall conveyancing fees as well as result in frustration.
- Find an alternative solicitor to act in the conveyancing, obviously checking they are Skipton Building Society approved.
- Try to convince your Skipton Building Society based solicitor to seek to join the Skipton Building Society panel
What makes your site different to alternative internet conveyancing brokers when it comes to conveyancing in Hedon?
At this site get an accurate costs illustration from a Solicitor or Licensed Conveyancer that understands the issues of your conveyancing in Hedon. As opposed to estate agents and many comparison sites we do not charge firms a commission if you select them for your home move in Hedon
As co-executor for the estate of my aunt I am disposing of a house in Neath but I am based in Hedon. My lawyer (approximately 200 miles from meneeds me to execute a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing practitioner in Hedon who can attest this legal document for me?
Technically speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are Hedon based
I have just appointed agents to market my garden flat in Hedon. Conveyancing has not commenced, but I have recently had a half-yearly maintenance charge invoice – Do I pay up?
It best that you pay the invoice as you normally would given that all ground rent and maintenance invoices will be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I invested in buying a garden flat in Hedon, conveyancing having been completed 10 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Hedon with an extended lease are worth £201,000. The ground rent is £45 levied per year. The lease comes to an end on 21st October 2090
With only 64 years remaining on your lease the likely cost is going to be between £14,300 and £16,400 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.