My solicitor has uncovered a defect with the lease for the flat we are buying in Newport Pagnell. The other side have offered defective title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor says that he must ensure that the mortgage company is happy with this solution. Who is the client here, us or the mortgage company ?
Notwithstanding that you have a mortgage offer from the lender 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. The appropriate lender provisions must be adhered to.
Is it necessary during the course of the conveyancing process to attend the offices of the solicitor to execute the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Newport Pagnell so that I can pop in to their offices if necessary.
These days approved lawyers for mortgage companies undertake their communications via Royal Mail, e-mail or over phone calls. This means that they can undertake the conveyancing transaction regardless of where you live in England or Wales. That being said you should see if you have the option of visiting the offices of your conveyancing lawyer if just in case this is required.
Is it necessary to take out insurance to cover chancel repairs when acquiring a residence in Newport Pagnell?
Unless a prior acquisition of the premises completed post 12 October 2013 you could assume that conveyancing practitioners handling conveyancing in Newport Pagnell to remain recommending a chancel search and or insurance against a claim.
I have been on the look out for a flat up to £305k and found one close by in Newport Pagnell I like with a park and railway links in the vicinity, however it's only got 49 years unexpired on the lease. There is not much else in Newport Pagnell suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan that many years may be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
Can you set out the spectrum of conveyancing dealt with by Newport Pagnell conveyancing organisations?
Most Newport Pagnell conveyancing companies manage to offer various assistance to residential and agricultural land proprietors, vendors, purchasers, landlords and tenants and you can expect them to offer expert advice on some of the following services:
House sale conveyancing in Newport Pagnell and throughout the rest of the country
House purchase conveyancing in Newport Pagnell and throughout England and Wales
All property dispute issues including rights of way and boundary disputes Leasehold Enfranchisement - both lease extensions and purchasing the freehold Drafting bespoke leases for individuals needs Grant and Assignment of Leases