Is the fact that my solicitor in Cimla is not on my mortgage company's solicitor panel that there is a problem with the standard of his conveyancing?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Cimla conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
My lawyer has discovered a a problem with the lease for the apartment we are buying in Cimla. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our property lawyer says that he must be satisfied that the lender is content with this solution. Who is the client here, us or the mortgage company ?
Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their specifications 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 specifications have to be complied with.
Despite weeks of looking the Title Certificate and documents to my property are lost. The solicitors who dealt with the conveyancing in Cimla 5 years ago have long since closed. Will I be able to sell the house?
Nowadays there are copies made of almost everything, and your solicitor should know exactly where to look for all the suitable documentation so you can purchase or sell your house without a hitch. Where copies can’t be located, your solicitor may be able to put in place insurance or indemnities against possible claims on your premises.
About to purchase a new build flat in Cimla. Conveyancing is daunting 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 conveyancing.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Cimla
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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.
Due to the advice of my in-laws I had a survey completed on a property in Cimla before appointing solicitors. I have been advised that there is a flying freehold aspect to the property. My surveyor has said that some banks tend refuse to issue a loan on a flying freehold property.
It varies from the lender to lender. Lloyds has different requirements from Halifax. If you call us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cimla. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Cimla to see if the conveyancing will be more expensive.
Can you offer any advice when it comes to choosing a Cimla conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for your lease extension (regardless if they are a Cimla conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with two or three firms including non Cimla conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be useful:
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How familiar is the firm with lease extension legislation?
Cimla Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
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The answer will be useful as a) areas can result in problems in the building as the communal areas may begin to deteriorate where services remain unpaid b) if the leaseholders have a dispute with the running of the building you will want to have full disclosure How long is the Lease? Is the freehold reversion owned jointly by the leaseholders?