My wife and I are soon to exchange buying a house in Temple but as a consequence of damage from some water damage at the property I have managed to agree recompense from the seller of £2k taking the form of a deduction in the price. I had intended this to be addressed as part of a side agreement but Clydesdale are not allowing this. Why were they notified?
The property lawyer being on a Clydesdale conveyancing panel is obliged to advise Clydesdale of any changes to the purchase price. If you were to refuse your solicitor to report the price change to Clydesdale then they would have to discontinue acting for you. In addition, Clydesdale and you would have to appoint a new lawyer for your conveyancing in Temple.
Do I need to pop into the offices of the solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Temple so that I can attend their offices if necessary.
As opposed to 12 years ago, most banks no longer require their conveyancing panel lawyer to witness the borrowers signature. You will still be obliged to provide ID documents and there are still distinct benefits to instructing a local practitioner, in your situation a conveyancing solicitor in Temple.
How does conveyancing in Temple differ for new build properties?
Most buyers of new build premises in Temple contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is ready to move into. This is because house builders in Temple typically acquire the site, 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 property lawyers 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 Temple or who has acted in the same development.
I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Temple. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
Most houses in Temple are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Temple in which case you should be shopping around for a Temple conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your lawyer should advise you fully on all the issues.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can I apply to the Leasehold Valuation Tribunal? Can you recommend a Temple conveyancing firm to act on my behalf?
Most definitely. We are happy to put you in touch with a Temple conveyancing firm who can help.
An example of a Lease Extension case for a Temple property is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case affected 1 flat. The unexpired residue of the current lease was 66.8 years.
My solicitors in Temple have advised me that they can not locate my conveyancing file. At the time of my purchase I took out a mortgage with the lender. Is it case that being on the bank conveyancing panel they need to have retained the file for a prescribed period?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the lender directly.