My solicitor has identified a a legal deficiency with the lease for the property we are purchasing in Blakeney. The seller’s lawyers have put forward title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must check that the lender is happy with this solution. Are we the client or is the bank?
Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. The appropriate lender provisions have to be complied with.
What will a local search inform me regarding the property we're purchasing in Blakeney?
Blakeney conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search company such as Searches UK The local search plays a central role in many a Blakeney conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your property. The search will provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
Just had an offer accepted on a new build flat in Blakeney. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Blakeney
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants.
Taking into account that I am about to spend over three hundred thousand on a property in Blakeney I would like to have a conversation with the conveyancer concerning thetransaction in advance of instructing the firm. Is this something that you can arrange?
Absolutely - we would be happy to talk to you we do not take any clients on without you liaising with the lawyer due to be conducting your property ownership legalities in Blakeney.There is no ‘factory style conveyancing’ - every client is unique individual, not a case number. The practices that we put you in touch with believe that the fees you are quoted for your conveyancing in Blakeney should be the amount on the final invoice that you end up paying.
I am a fortnight into a freehold purchase having been recommend to conveyancers by the local agent to execute conveyancing in Blakeney. We are not happy. Can you you assist me in finding new conveyancers?
A solicitor would need to be really bad to suggest diss instructing them. Has your loan offer been sent? If so you need to advise them of the replacement solicitor and ensure the loan are re-issued. The conveyancer should be on the banks panel to avoid added charges and complications. That should be your first question of the new solicitors. The search tool should help you find a bank approved conveyancer for your home move in Blakeney
I work for a long established estate agent office in Blakeney where we see a number of leasehold sales jeopardised due to short leases. I have received contradictory information from local Blakeney conveyancing firms. Can you confirm whether the owner of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Blakeney Conveyancing for Leasehold Flats - A selection of Queries before buying
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Are there any major works on the horizon that will increase the maintenance costs? Most Blakeney leasehold apartments will incur a service bill for maintenance of the block levied on behalf of the landlord. Where you purchase the apartment you will have to pay this amount, usually quarterly during the year. This can vary from a few hundred pounds to thousands of pounds for buildings with lifts and large common grounds. In all probability there will be a rentcharge for you to pay annual, ordinarily this is not a exorbitant sum, say about £50-£100 but you should to check as sometimes it can be prohibitively expensive. On the whole the outlay for major works tend not to be wrapped into the service charges, although some managing agents in Blakeney require leaseholders to pay into a reserve fund and this is used to offset against larger works.