My solicitor has identified a defect with the lease for the property we are buying in Choppington. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor says that he must be satisfied that the bank is happy with this solution. Are we the client or is the mortgage company ?
Even though you have a mortgage offer from the lender 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 bank are the client. The appropriate lender conditions must be adhered to.
I am remortgaging my apartment in Choppington, does my lawyer have to be on the Co-operative Conveyancing panel?
In theory, you could use a solicitor that is not on the Co-operative conveyancing panel, but Co-operative would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
If you had a top tip for choosing a conveyancing solicitor in Choppington what would it be?
Do not opt for the cheapest Choppington conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
What is the difference between a licensed conveyancer and conveyancing solicitor in Choppington
Two types of professional can conduct conveyancing in Choppington namely CLC regulated conveyancers or solicitors. Both professionals administer conveyancing services that required to complete the sale or acquisition of property. Both are duty bound to carry out Choppington conveyancing to the same quality and guidelines so you can be sure that your conveyancing will be professionally conducted and that the requisite steps will be correctly attended to.
I am due to exchange contracts on my apartment. I had a double glazing fitted in January 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Santander are being problematic. The Choppington solicitor who is on the Santander conveyancing panel is saying indemnity insurance will be fine but Santander are requiring a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
A relative suggested that if I am purchasing in Choppington I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Choppington conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Choppington around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data regarding Choppington.
Due to the encouragement of my in-laws I had a survey completed on a property in Choppington in advance of retaining conveyancers. I have been told that there is a flying freehold element to the property. Our surveyor advised that some lenders tend refuse to give a loan on such a home.
It depends who your proposed lender is. HSBC has different requirements for example to Nationwide. Should you wish to call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Choppington. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Choppington to see if the conveyancing will be more expensive.
I am on look out for some leasehold conveyancing in Choppington. Before I set the wheels in motion I want to be sure as to the number of years remaining on the lease.
If the lease is registered - and almost all are in Choppington - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I acquired a leasehold flat in Choppington, conveyancing having been completed in 2004. Can you work out an approximate cost of a lease extension? Equivalent flats in Choppington with a long lease are worth £186,000. The average or mid-range amount of ground rent is £55 charged once a year. The lease ends on 21st October 2078
You have 53 years remaining on your lease the likely cost is going to be between £27,600 and £31,800 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.