My lawyer has discovered a a legal deficiency with the lease for the apartment we are purchasing in Didcot. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor has advised that he must ensure that the lender is happy with this solution. Are we the client or is the bank?
Regardless of the fact that you have a mortgage offer from the lender 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 specifications. You and the bank are the client. These conveyancing instructions have to be complied with.
I am planning to move home in July. Does my conveyancing solicitor communicate with the removal company on the day of completion. Incidentally, can you recommend a removal company in Didcot. Conveyancing solicitor was chosen before I stumbled across this page.
On the day of completion you will need to collect the house keys from your selling agent however this should only occur once the sellers solicitors advise the agent that they acknowledge receipt of the completion payment and the keys can be passed over. You will need to inform the removal men that you are ready to move in. As a matter of policy we do not recommend a specific removal company but can assist you in choosing a residential property solicitor in Didcot or a firm that specialises in conveyancing in Didcot.
Is it correct that all Didcot CQS (Conveyancing Quality Scheme) solicitors are on the Leeds Building Society conveyancing list of approved solicitors?
It is true that some banks and building societies now make use of CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
I can not work out if my bank requires a lease extension. I have called into my local Didcot building society branch on a couple of occasions and was told they are content with the situation and they would lend. My Didcot conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend based on their specific requirements. I have no idea who is right.
The lawyer has to follow the CML Handbook Part 2 conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
A friend advised me that if I am buying in Didcot I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally quoted for as part of the standard Didcot conveyancing searches. It is a large report of more than thirty pages, listing and detailing significant information about Didcot around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Didcot Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Didcot Education with maps and statistics, Local Amenities and other useful information concerning Didcot.
My wife and I purchased a terraced Georgian house in Didcot. Conveyancing lawyer represented me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold with the exact same address. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register as there may be 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 Didcot and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with the conveyancing solicitor who carried out the work.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a simple, no chain conveyancing. Didcot is the location of the property. Can you offer any opinion?
Flying freeholds in Didcot 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 Didcot 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 Didcot 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 residence.
My partner and I may need to let out our Didcot 1st floor flat for a while due to a career opportunity. We instructed a Didcot conveyancing practice in 2004 but they have closed and we did not have the foresight to seek any guidance as to whether the lease allows us to sublet. How do we find out?
A small minority of properties in Didcot do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I am the registered owner of a 2 bed flat in Didcot, conveyancing was carried out half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Didcot with a long lease are worth £211,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease expires on 21st October 2092
With 67 years left to run the likely cost is going to be between £10,500 and £12,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.