My solicitor has uncovered a a legal deficiency with the lease for the apartment we are purchasing in Upton Upon Severn. The other side have suggested defective title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancer has advised that he must ensure that the lender is happy with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender 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 conveyancing practitioner will have no choice but to discontinue acting for you.
Can your site be used to find a Conveyancing solicitor in Upton Upon Severn even where I’m not buying or disposing of a house, for instance if I want to acquire a shop in Upton Upon Severn with a loan from Birmingham Midshires?
Our search tool is primarily there to select residential conveyancing solicitors in Upton Upon Severn but we have listed at the bottom of this page a few Upton Upon Severn commercial conveyancing firms. You will need to enquire with the firm directly to establish if they can also act for Birmingham Midshires
The deeds to my property are lost. The conveyancers who conducted the conveyancing in Upton Upon Severn 4 years ago have long since closed. Will I be able to sell the house?
Assuming the title is registered the information relating to your proprietorship will be recorded by HMLR under a Title Number. It is easy to perform a search at the Land Registry, find your property and order up to date copies of the property title for less than a fiver. Where the property is Leasehold then the Land Registry will also normally retain a certified duplicate of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
I am looking for a leasehold apartment up to £245,000 and found one round the corner in Upton Upon Severn I like with amenity areas and station in the vicinity, however it's only got 61 years on the lease. There is not much else in Upton Upon Severn for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the remaining unexpired lease term will be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
I have just appointed agents to market my 2 bed apartment in Upton Upon Severn.Conveyancing has not commenced however I have just received a yearly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should clear the invoice as you normally would because all rents and service payments should be apportionedon completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process