My conveyancer has uncovered a a legal deficiency with the lease for the apartment we are purchasing in Littleport. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancing practitioner has advised that he must check that the bank is happy with this solution. Who is the client here, us or the bank?

Even though you have a mortgage offer from the bank does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your 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. The appropriate lender conditions have to be complied with.

A friend suggested that where I am buying in Littleport I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?

This is a search is usually included in the estimate for your Littleport conveyancing searches. It is a large report of about 40 pages, listing and detailing significant information about Littleport around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Littleport Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful data concerning Littleport.

Due to the guidance of my in-laws I had a survey completed on a house in Littleport prior to appointing lawyers. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some lenders may not grant a loan on a flying freehold property.

It varies from the lender to lender. HSBC has different requirements from Halifax. Should you wish to call us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Littleport. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Littleport to see if the conveyancing will be more expensive.

I'm converting the mortgage on my current home to a buy to let loan with Yorkshire Building Society and intend to use the remaining equity as a down payment on another house. The neighborhood we are looking at is Littleport. Will your lawyers be able to act for the two mortgage companies and tie in the transactions?

Make use of our comparison tool on this page to check that the lawyers are approved by both lenders. Having checked that they are your conveyancer will be able to simultaneously deal with the two transactions but you should have a chat with you solicitor and specify your expectations and requirements.

I today plan to offer on a house that seems to be perfect, at a great price which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Littleport. Conveyancing advisers have are soon to be instructed. Will they explain the issues?

Most houses in Littleport are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Littleport in which case you should be looking for a Littleport conveyancing solicitor and check that they are used to transacting on leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.

Leasehold Conveyancing in Littleport - A selection of Questions you should ask Prior to Purchasing

How long is the Lease? How many of the leaseholders are in arrears for their service charge payments? Please note that where the lease has fewer than 80 years it will impact the marketability of the apartment. Check with your bank that they are content with remaining years on the lease. Leases with fewer than 80 years remaining means that you will almost definitely require a lease extension sooner rather than later and it is worth discovering how much this will be. Remember, in most cases you would need to own the residence for two years before you are entitled to extend the lease.