Our conveyancer has discovered a a legal deficiency with the lease for the property we are purchasing in Colyers. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor has advised that he must be satisfied that the lender is happy with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
My partner and I are close to exchanging contracts on the sale of our home in Colyers and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. Any high street Colyers conveyancer would know that there is no such problem. It does beg the question why the purchasers are using a factory type conveyancing practice rather than a conveyancing solicitor in Colyers. We have lived in Colyers for 4 years we know that this is a non issue. Should we contact our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing firm already. What do they say? You must enquire of 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 ailment)
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Colyers is where the house is located. Can you offer any advice?
Flying freeholds in Colyers are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Colyers you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Colyers may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
What tools are available to locate a Colyers law firm on the Skipton Building Society conveyancing panel? I am a keen cyclist and am happy to travel upto 10kilometers to meet the solicitor.
You can use the search on this website. Please select a mortgage company and your location and you will see a number of Colyers conveyancing lawyers located nearest you. We have detailed some Colyers conveyancing firms at the bottom of this page and you can ring them to verify if they are on the Skipton Building Society approved list
My partner has urged me to use his lawyers for conveyancing in Colyers. Do I follow his advice?
There are no two ways about it the ideal way to find a conveyancing lawyer is to seek guidance from friends or relatives who have actually previously instructed the conveyancer that you are contemplating using.
I only have Sixty One years unexpired on my lease in Colyers. I now want to get lease extension but my freeholder is can not be found. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the landlord. For most situations a specialist would be useful to conduct investigations and prepare a report which can be used as evidence that the landlord is indeed missing. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court covering Colyers.
My wife and I have hit a brick wall in trying to reach an agreement for a lease extension in Colyers. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee freeholder or where there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to assess the price.
An example of a Lease Extension case for a Colyers residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The unexpired term was 76 years.