Our solicitor has identified a defect with the lease for the apartment we are purchasing in Brixton. The seller’s lawyers have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancer says that he must be satisfied that the mortgage company is happy with this solution. Are we the client or is the lender?
Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the lender are the client. The appropriate lender conditions have to be complied with.
I have an AIP. The bank mentioned the home loan came with free conveyancing. Does this mean I have to appoint their panel lawyer as I would much rather use a local conveyancing solicitor in Brixton?
You should check but the the likelihood is that allocate you one of their panel lawyers should you take up the "fee-free" deal. Call the bank and determine if they offer you a cash alternative. Some banks have previously offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor in Brixton.
I need some quick conveyancing in Brixton as I have an ultimatum to exchange contracts inside 3 weeks. A mortgage is not required. Can I escape the need for conveyancing searches to save fees and time?
If.Given you are are a cash buyer you are at free not to do searches although no conveyancer would recommend that you don't. Drawing on our experience of conveyancing in Brixton the following are instances of what can crop up and therefore impact future saleability: Enforcement Actions, Outstanding Charges, Overdue Grants, Road Schemes,...
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one close by in Brixton I like with a park and station in the vicinity, however it only has 61 years unexpired on the lease. There is not much else in Brixton for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the shortness of the lease will be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you can request that they start the process of the extension and then assign 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.
I have been sourcing a conveyancing practitioner in Brixton for my purchase. Is there any facility to check a solicitor's complaints history with the profession’s regulator?
Anyone can find documented Solicitor Regulator Association (SRA) decisions resulting from investigations commenced on or after 1 January 2008. Go to Check a solicitor's record. To find details Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training reasons.
I pay a maintenance fee for my flat in Brixton. Due to redundancy and other issues I slipped behind with payments. The freeholders agreed a clearance plan but there is still a couple of currently outstanding.
I now wish to dispose of the property and I am worried this can jeopardize the sale if I have to discharge the arrears in advance. Do I have to settle before - is this viable?
Do clarify with the conveyancer carrying out your Brixton conveyancing but it might be possible to arrange for the arrears to be transferred to the purchasers. The purchase price they pay would be adjusted to reflect the amount of debt they assume. They could then deal with the outstanding monies once they are the owners.