My solicitor has identified a a legal deficiency with the lease for the property we are purchasing in Croesyceiliog. The other side have put forward defective title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer says that he must ensure that the bank is willing to move forward with this solution. Are we the client or is the lender?
Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. These conveyancing instructions have to be complied with.
My Solicitor in Croesyceiliog is not listed on the Bank of Ireland Conveyancing Panel. Can I still continue with my family solicitor notwithstanding that they are not on the Bank of Ireland list of approved lawyers?
The limited options available to you here include:
- Carry on with your preferred Croesyceiliog lawyers but Bank of Ireland will need to retain a lawyer on their panel. This will result in additional total conveyancing fees and result in delays.
- Find a new practitioner to to deal with the purchase, not forgetting to check they are Convince your solicitor to use their best endeavours to join the Bank of Ireland conveyancing panel
Me and my brother purchased a renovated Edwardian house in Croesyceiliog. Conveyancing solicitor represented me and Britannia. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the matching property. Is it worth asking Britannia to clarify?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Croesyceiliog and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with your conveyancing lawyer who conducted the conveyancing.
I've recently found out that there is a flying freehold element on a property I have offered on last month in what should have been a quick, no chain conveyancing. Croesyceiliog is the location of the property. Is there any advice you can give?
Flying freeholds in Croesyceiliog are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Croesyceiliog 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 Croesyceiliog 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.
How straightforward is it to use the search facility to select a conveyancing lawyer in Croesyceiliog on the panel for my bank?
Step one is to choose a bank such as Halifax, Virgin Money or Nottingham Building Society then type in your preferred area such as Croesyceiliog. Conveyancing organisations in Croesyceiliog and nationally should be identified.
I am intending to sublet my leasehold flat in Croesyceiliog. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
A lease governs the relationship between the landlord and you the leaseholder; in particular, it will say if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Croesyceiliog do not prevent an absolute prevention of subletting – such a clause would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the sublease.
I acquired a 2 bed flat in Croesyceiliog, conveyancing formalities finalised half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Croesyceiliog with over 90 years remaining are worth £186,000. The ground rent is £55 charged once a year. The lease comes to an end on 21st October 2077
With only 52 years remaining on your lease we estimate the price of your lease extension to span between £29,500 and £34,000 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.