My lawyer has uncovered a a legal deficiency with the lease for the apartment we are purchasing in Llanmartin. The other side have put forward defective title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer has advised that he must ensure that the bank is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
Regardless of the fact that 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 conditions. You and the mortgage company are the client. These conveyancing instructions must be adhered to.
Why is leasehold purchase conveyancing in Llanmartin costs more?
Llanmartin leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
We just had an offer accepted to buy with Loughborough BS. I called into 3 or 4 high street firms yet cant to find a Llanmartin conveyancing firm on the Loughborough BS panel. Can you assist?
You should take advantage of the search tool on this web page. Please choose the lender and type Llanmartin or your location and you will discover a number of lawyer located in Llanmartin or near you.
The deeds to my property are lost. The lawyers who dealt with the conveyancing in Llanmartin 4 years ago have long since closed. What are my options?
Gone are the days when you need to hold title original deeds to establish that you are the registered proprietor of land or property, given that the Land Registry hold details of all registered land or property electronically.
Due to the guidance of my in-laws I had a survey completed on a house in Llanmartin before retaining conveyancers. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some banks may not give a mortgage on such a home.
It varies from the lender to lender. Santander has different instructions from Halifax. Should you wish to telephone us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Llanmartin. Conveyancing will be smoother if you use a solicitor in Llanmartin especially if they are accustomed to such properties in Llanmartin.