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Find a Langford Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Langford? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Langford conveyancing at risk of delay or failure.

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Recently asked questions about conveyancing in Langford

I am the registered owner of a freehold premises in Langford yet pay rent, why is this and what is this?

It is rare for properties in Langford and has limited impact for conveyancing in Langford but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.

Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.

About to purchase a new build apartment in Langford. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.

Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Langford

    Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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.

Due to the input of my in-laws I had a survey completed on a property in Langford prior to appointing lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor has said that some lenders tend refuse to grant a mortgage on this type of premises.

It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. If you call us we can investigate further 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 Langford. Conveyancing will be smoother if you use a solicitor in Langford especially if they are accustomed to such properties in Langford.

Do you have any advice for leasehold conveyancing in Langford from the point of view of speeding up the sale process?

  • Much of the frustration in leasehold conveyancing in Langford can be bypassed if you get in touch lawyers as soon as you market your property and ask them to collate the leasehold documentation which will be required by the purchasers’ lawyers.
  • The majority of freeholders or managing agents in Langford charge for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Langford. In the event that you altered the property did you need the Landlord’s permission? Have you, for example laid down wooden flooring? Langford leases often stipulate that internal structural changes or addition of wooden flooring calls for a licence from the Landlord acquiescing to such alterations. If you fail to have the consents in place do not communicate with the landlord without checking with your conveyancer first. You believe that you know the number of years remaining on your lease but it would be advisable double-check via your lawyers. A buyer’s lawyer will be unlikely to recommend their client to where the remaining number of years is less than 75 years. It is therefore important at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. Some Langford leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors.

I invested in buying a leasehold flat in Langford, conveyancing formalities finalised November 1997. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Langford with over 90 years remaining are worth £179,000. The ground rent is £65 yearly. The lease terminates on 21st October 2078

With just 57 years unexpired we estimate the price of your lease extension to range between £26,600 and £30,800 as well as legals.

The suggested premium range 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 detailed due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.

Our solicitor in Langford has uncovered a a problem with the lease for the flat we are purchasing in Langford. The seller’s lawyers have offered title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor has advised that as he is on the lender conveyancing panel he must ensure that the lender is happy 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 lender are the client. A precondition to being on the mortgage company approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will 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.

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Find out more about how flying freehold can affect your the value of a property.