My partner and I are looking to buy a home in Blandford Forum and have instructed a Blandford Forum conveyancing practice. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Aldermore have this morning contacted us to advise us that there is now an issue as our Blandford Forum lawyer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Blandford Forum solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
I own a freehold premises in Blandford Forum but nevertheless charged rent, why is this and what is this?
It is rare for properties in Blandford Forum and has limited impact for conveyancing in Blandford Forum but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
My partner and I are downsizing from our house in Blandford Forum and according to the buyers it appears that there is a risk of it being built on contaminated land. Any high street Blandford Forum conveyancer would know that there is no such problem. It does beg the question why the purchasers are using a web based conveyancing practice rather than a conveyancing solicitor in Blandford Forum. We have lived in Blandford Forum for many years we know of no issue. Do we contact our local Authority to obtain clarification that the buyers are looking for.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Just had an offer accepted on a new build apartment in Blandford Forum. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Blandford Forum
-
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Due to the encouragement of my in-laws I had a survey completed on a property in Blandford Forum ahead of instructing solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some lenders will not issue a loan on a flying freehold premises.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can look into this further 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 Blandford Forum. Conveyancing may be slightly more expensive based on your lender's requirements.
Looking forward to exchange soon on a garden flat in Blandford Forum. Conveyancing lawyers assured me that they are sending me a report next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Blandford Forum should include some of the following:
-
Specifying your legal entitlements in respect of the communal areas in the building.For example, does the lease permit a right of way over an accessway or hallways? Does the lease require carpeting throughout thus preventing wood flooring? Changes to the flat Advice as to the provision in the lease to pay service charges - in relation to the building, and the more general rights a leaseholder has Will you be prohibited or prevented from having pets in the property?
Leasehold Conveyancing in Blandford Forum - Sample of Questions you should consider Prior to Purchasing
-
Is the freehold reversion owned collectively by the tenants? Be sure to find out if the the lease includes any onerous restrictions in the lease. For example it is reasonably common in Blandford Forum leases that pets are not allowed in certain buildings in Blandford Forum. If you like the flatin Blandford Forum yet your dog is not allowed to live with you then you will be faced difficult decision. Its a good idea to discover as much as possible concerning the company managing the block as they will either make your living at the property much easier or a lot more difficult. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to practical matters like the upkeep of the common parts. Don't be shy to ask other people whether they are happy with their management. In conclusion, be sure you discover the dates that you are obliged pay the service charge to the appropriate party and precisely what you get for your money.