My lawyer has discovered a a problem with the lease for the property we are buying in New Farnley. The seller’s lawyers have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancing practitioner says that he must be satisfied that the mortgage company is happy with this solution. Who is the client here, us or the lender?

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 solicitor must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank 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 conveyancer will have no choice but to discontinue acting for you.

How does conveyancing in New Farnley differ for new build properties?

Most buyers of new build property in New Farnley approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is ready to move into. This is because developers in New Farnley tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in New Farnley or who has acted in the same development.

Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what should have been a quick, chain free conveyancing. New Farnley is where the house is located. Can you shed any light on this issue?

Flying freeholds in New Farnley are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in New Farnley you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in New Farnley may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.

What does commercial conveyancing in New Farnley cover?

Commercial conveyancing in New Farnley covers a broad range of guidance, offered by qualified solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.

I am hoping to exchange soon on a leasehold property in New Farnley. Conveyancing lawyers inform me that they will have a report out to me next week. What should I be looking out for?

Your report on title for your leasehold conveyancing in New Farnley should include some of the following:

Who has the liability to repair and maintain the block. It is essential for you to know which party is liable for the repair and maintenance of every part of the building Does the lease prevent you from letting out the property, or having a home office for business You should have a good understanding of the insurance obligations How long the lease is. You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years Additions to the flat

New Farnley Leasehold Conveyancing - A selection of Queries before Purchasing

Its a good idea to discover as much as possible about the managing agents as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to every day issues such as the cleanliness of the common parts. Ask other tenants whether they are happy with them. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the relevant party and precisely what it includes. Are there any major works in the near future that will add a premium to the service fees? What is the annual service fee and ground rent?