Our conveyancer has uncovered a a legal deficiency with the lease for the property we are purchasing in Erdington. The seller’s lawyers have suggested title insurance as a solution. We are content with insurance and will pay for it. Our conveyancing practitioner has advised that he must check that the lender is willing to move forward with this solution. Are we the client or is the mortgage company ?
Notwithstanding that you have a mortgage offer from the mortgage company 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 conditions. You and the mortgage company are the client. The appropriate lender provisions must be adhered to.
A friend advised me that if I am purchasing in Erdington I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Erdington conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about Erdington around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Erdington Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful information regarding Erdington.
I acquired my flat on 1 February and my personal details is not yet on the land registry website. Need I be worried? My conveyancing solicitor in Erdington advises it would be registered inside ten days. Are properties in Erdington particularly slow to register?
There is nothing unique when it comes to conveyancing in Erdington registration formalities. Rather than based on location, timescales can vary depending on who lodges the application, whether it is in order and if the Land registry have to notify any other persons or bodies. As of today approximately 80% of submission are fully addressed within two weeks but occasionally there can be longer hold-ups. Historically registration occurs after the purchaser is living at the property thus an expedited registration is not typically primary concern yet where there is a degree of urgency associated with the registration then you or your lawyers must contact the land registry and explain the circumstances.
About to purchase a new build apartment in Erdington. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Erdington
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I need to appoint a conveyancing solicitor for freehold conveyancing in Erdington. I've land on a web site which seems to have the perfect offering If there is a chance to get all this stuff completed via email that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I wish to rent out my leasehold flat in Erdington. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for their consent?
A lease dictates the relationship between the landlord and you the leaseholder; in particular, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. Most leases in Erdington do not contain subletting altogether – 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 own a 1st floor flat in Erdington, conveyancing having been completed in 1999. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Erdington with an extended lease are worth £211,000. The ground rent is £45 invoiced annually. The lease runs out on 21st October 2093
With just 67 years left to run we estimate the premium for your lease extension to be between £10,500 and £12,000 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.