My solicitor has identified a defect with the lease for the property we are buying in Common Edge. The other side have put forward defective title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer says that he must be satisfied that the mortgage company is willing to move forward with this solution. Who is the client here, us or the lender?
Regardless of the fact that you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. These conveyancing instructions must be adhered to.
Completed the sale of my flat in Common Edge last May but my buyer keeps e-mailing daily complaining that her lawyer needs to hear from mysolicitor. What should my lawyer have done following completion?
Post completion of your house sale your solicitor should send the transfer deeds and all of the paperwork to the purchaser's lawyers. If applicable, your solicitor should also confirm that the mortgage has been redeemed to the buyers lawyers. There is unlikely to be post completion formalities specific conveyancing in Common Edge.
How does conveyancing in Common Edge differ for new build properties?
Most buyers of new build residence in Common Edge approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because developers in Common Edge typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Common Edge or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Common Edge is the location of the property. Can you shed any light on this issue?
Flying freeholds in Common Edge are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Common Edge you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Common Edge 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.
In my capacity as executor for the will of my grandfather I am selling a property in Neath but live in Common Edge. My lawyer (based 235 miles awayhas requested that I execute a stat dec before completion. Could you suggest a conveyancing lawyer in Common Edge to witness and place their company stamp on the document?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are Common Edge based
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £350,000 flat in Common Edge in 8 days. The freeholder has quoted £312 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge such fees for a flat conveyance in Common Edge?
Common Edge conveyancing on leasehold maisonettes more often than not involves the purchaser’s conveyancer submitting questions for the landlord to answer. Although the landlord is not legally bound to address these enquiries the majority will be willing to assist. They are at liberty to charge a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some cases it is in excess of £800. The administration charge demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the charge is technically not due. In reality one has no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
Common Edge Leasehold Conveyancing - Examples of Questions you should ask before buying
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Is the freehold owned collectively by the leaseholders? Please tell me if there are any major works anticipated that will add a premium to the maintenance fees?