Our conveyancer has uncovered a defect with the lease for the flat we are buying in Adamsdown. The other side have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancer has advised that he must ensure that the lender is happy with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your conveyancing practitioner 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.
Finally the sale completed on my house in Adamsdown last March but my buyer keeps SMS messaging daily complaining that her solicitor is waiting to hear from myconveyancer. What should my lawyer have done following completion?
Following your house sale your solicitor should deliver the transfer documentation and all supplemental paperwork to the purchaser's lawyers. Where appropriate, your solicitor must also evidence that the home loan has been paid off to the purchasers lawyers. There is unlikely to be post completion procedures just for conveyancing in Adamsdown.
I am buying a house and the lawyer has referenced Chancel Repair for which the house may be obligated to contribute to because it falls into the area of such a church. She has mentioned insurance. Is this really appropriate for conveyancing in Adamsdown
Unless a prior acquisition of the house completed after 12 October 2013 you may take it that conveyancing practitioners conducting conveyancing in Adamsdown to continue to recommend a chancel search and or insurance against a claim.
I am looking for a leasehold apartment up to £305k and identified one near me in Adamsdown I like with open areas and transport links nearby, the downside is that it only has 49 years unexpired on the lease. There is not much else in Adamsdown for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you could 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 term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
Having checked my lease I have discovered that there are only 62 years left on my lease in Adamsdown. I need to extend my lease but my freeholder is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. However, you will be required to prove that you or your lawyers have made all reasonable attempts to track down the landlord. In some cases an enquiry agent should be helpful to conduct investigations and to produce a report which can be used as evidence that the landlord is indeed missing. It is advisable to get professional help from a solicitor in relation to devolving into the landlord’s disappearance and the application to the County Court overseeing Adamsdown.
Adamsdown Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying
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It is important to be aware if fixing the lift or some other significant cost is due in the near future that will be shared by the leasehold owners and could well materially impact the level of the service costs or result in a one time invoice. How much is the annual maintenance fee and ground rent? The answer will be important as a) areas may cause problems in the block as the communal areas may start to deteriorate if repairs remain unpaid b) if the tenants have an issue with the managing agents you will want to have all the details
Our sealed bid on semi in Adamsdown has been agreed to, the vendor does however have a dependent purchase. The sellers have offered on a property, although it’s not yet tied up, and has viewings of other apartments booked. I have instructed a local conveyancing lawyer in Adamsdown. What do I do now? At what point do I apply for the mortgage with Clydesdale?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of £1k, then valuation, Adamsdown conveyancing search costs, etc). The first course of action is to ensure that your solicitor is on the Clydesdale approved list. Regarding the subsequent phase this very much depends on the circumstances of your transaction, desire for the property and on the state of the market. In a hot market some home buyers would apply for a home loan with Clydesdale and arrange for the valuation and only if it comes back ok would they ask their lawyer to press on with searches.