We are about to complete on the purchase of a house in Westcliff On Sea but as a consequence of wreckage from a small fire at the property I have managed to agree recompense from the seller in the sum of three thousand pounds taking the form of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process yet Clydesdale are not allowing this. Why were they involved?
The conveyancer that is on the Clydesdale approved list is required to inform Clydesdale of any changes to the sale price. If you were to refuse your lawyer 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 conveyancer for your conveyancing in Westcliff On Sea.
I have just over seventy years unexpired on my lease and need a lease extension for my flat in Westcliff On Sea. Conveyancing solicitors on the Accord Mortgages panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 18/2/2021 the requirements read as follows :
My wife and I own a renovated Edwardian house in Westcliff On Sea. Conveyancing practitioner represented me and Clydesdale. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold under the exact same address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Westcliff On Sea and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with the conveyancing practitioner who carried out the work.
How does conveyancing in Westcliff On Sea differ for newly converted properties?
Most buyers of new build or newly converted property in Westcliff On Sea come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Westcliff On Sea tend to buy 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 Westcliff On Sea or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a house in Westcliff On Sea ahead of retaining lawyers. I have been told that there is a flying freehold overhang to the property. The surveyor advised that some banks may refuse to issue a loan on a flying freehold house.
It depends who your proposed lender is. Santander has different instructions from Nationwide. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Westcliff On Sea. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Westcliff On Sea to see if the conveyancing costs will increase in light of this.