I am purchasing property in Clifton. My Solicitor is not listed on the mortgage company approved list. Is it possible for me to appoint my Clifton conveyancing solicitor even though they are not on the bank list of approved lawyers?
One will need to have a conveyancer to complete the formalities when you take out a loan to purchase your home. They will carry out all the relevant legal checks on the property, ensuring that you’re properly registered as the owner and ensure that all the necessary mortgage paperwork is in place. You could instruct a Clifton conveyancing practitioner of your choosing. Nevertheless, if the solicitor appointed is not on the lender conveyancing panel supplemental charges will be incurred as separate legal representation will be need by the mortgage company. Bank panel applications can be submitted, so if your conveyancer has not in the past sought membership they should do so.
I am hoping to move into my new home in Clifton next Monday. My conveyancer now wants me to supply her with proof of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the bank. What does the insurance need to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These obligations are not specific to conveyancing in Clifton.
We see that you have a search directory identifying solicitors on the TSB conveyancing panel. Do firms pay you a commission if I appoint them for our own conveyancing in Clifton?
We are a listing service only for law firms wishing to communicate if they are on the TSB conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Clifton.
Will our conveyancer be asking questions about flooding as part of the conveyancing in Clifton.
Flooding is a growing risk for conveyancers conducting conveyancing in Clifton. Some people will acquire a property in Clifton, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to impart advice on flood risk, but there are a number of checks that may be initiated by the buyer or by their conveyancers which can give them a better appreciation of the risks in Clifton. The conventional set of information sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual question of the seller to determine if the property has suffered from flooding. If flooding has previously occurred which is not notified by the owner, then a purchaser may issue a claim for damages as a result of such an incorrect reply. The buyer’s lawyers may also conduct an enviro report. This will disclose whether there is any known flood risk. If so, additional investigations should be conducted.
I opted to have a survey done on a property in Clifton prior to appointing lawyers. I have been told that there is a flying freehold element to the house. My surveyor has said that some mortgage companies tend not issue a loan on this type of home.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. Should you wish to call us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Clifton. Conveyancing will be smoother if you use a solicitor in Clifton especially if they regularly deal with such properties in Clifton.
I am employed by a long established estate agency in Clifton where we see a number of leasehold sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Clifton conveyancing firms. Can you shed some light as to whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner 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 proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder 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 purchaser.
Clifton Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing
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The answer will be useful as a) areas can cause problems for the block as the communal areas may begin to deteriorate if maintenance remain unpaid b) if the leasehold owners have a dispute with the managing agents you will need to have all the details Are any of leasehold owners in dispute over their service charge payments? What prohibitions are there in the Clifton Lease?