Our solicitor has uncovered a a legal deficiency with the lease for the flat we are purchasing in North East London. The seller’s lawyers have put forward defective title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancing practitioner says that he must be satisfied that the bank is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their requirements 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.
Me and my brother have a semi-detached Victorian house in North East London. Conveyancing solicitor acted for me and Yorkshire Building Society. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold with the matching property. I'd like to know for sure, how can I find out??
You need to assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in North East London and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with your conveyancing lawyer who conducted the conveyancing.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. North East London is the location of the property. Can you offer any assistance?
Flying freeholds in North East London 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 North East London 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 North East London may determine 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.
Are there any apps to help identify a North East London solicitor on the Britannia conveyancing panel? I drive a motor bike and am prepared to travel upto 10miles to meet the lawyer.
Feel free to make use of the facility on this page. Please pick a mortgage company and your location and you will see a number of North East London conveyancing lawyers locally. We have listed some North East London conveyancing firms at the bottom of this page and you can contact them to verify whether they are on the Britannia member panel
Having had my offer accepted I require leasehold conveyancing in North East London. Before I set the wheels in motion I would like to find out the remaining lease term.
Assuming the lease is registered - and most are in North East London - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
North East London Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying
Is anyone aware of any major works in the planning that could add a premium to the service costs? Are any of leasehold owners in dispute over their service charge liability? Many North East London leasehold flats will be liable to pay a service bill for maintenance of the building invoiced by the freeholder. If you acquire the apartment you will have to pay this contribution, normally periodically during the year. This may vary from several hundred pounds to thousands of pounds for blocks with lifts and large common grounds. In all likelihood there will be a rentcharge to be met annual, this is usually not a exorbitant sum, say about £25-£75 but you should to enquire as sometimes it could be many hundreds of pounds.