My solicitor has uncovered a a problem with the lease for the flat we are buying in Laceby. The other side have put forward title insurance as a solution. We are happy with insurance and will pay for it. Our property lawyer has advised that he must be satisfied that the lender is willing to move forward with this solution. Are we the client or is the mortgage company ?
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 property lawyer must comply with the UK Finance Lenders’ Handbook specifications. 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 lawyer will have no choice but to discontinue acting for you.
I have todayfound out that Stirling Law have closed. They carried out my conveyancing in Laceby for a purchase of a leasehold flat 18 months ago. How can I establish that the property is in my name in the name of the previous owner?
The easiest method to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Laceby conveyancing specialists.
About to purchase a new build flat in Laceby. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Laceby
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan. Please confirm the Lease plans are architect prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I decided to have a survey carried out on a house in Laceby ahead of instructing conveyancers. I have been advised that there is a flying freehold element to the house. The surveyor advised that some lenders tend refuse to give a loan on such a house.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. Should you wish to call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Laceby. Conveyancing will be smoother if you use a solicitor in Laceby especially if they are accustomed to such properties in Laceby.
As a leasehold owner I am on the hook for a maintenance contribution for my flat in Laceby. Due to redundancy and other issues I slipped into arrears with payments. I negotiated a payment schedule but there is still around £2000 currently due.
I am under pressure to sell and I am concerned this can hold me back if I have to pay off the amount due in advance. I'd like to sell up and subsequently pay them back with the proceeds - is this achievable?
It would be wise to speak with the property lawyer dealing with your Laceby conveyancing but it might be possible to arrange for the debt to be passed to the purchasers. The purchase price payable would be adjusted to reflect the amount of debt they take on. They could then pay the outstanding monies once they are the owners.