Our conveyancer has discovered a a legal deficiency with the lease for the apartment we are purchasing in Feltham. The seller’s lawyers have put forward defective title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancer says that he must ensure that the mortgage company is happy with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your solicitor 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 bank 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 lawyer will have no choice but to discontinue acting for you.
My brother-in-law has suggested I instruct a conveyancing solicitor in Feltham. I need to find out if they are accepted on the Godiva Mortgages Ltd conveyancing panel. Can you help?
The first thing to do is phone the lawyer and enquire whether they can act for the lender. Alternatively you should call Godiva Mortgages Ltd who may be able to help.
We are purchasing a property and the solicitor has mentioned Chancel Repair to which the house may be obligated to contribute to given it’s proximity to the area of such a church. He has recommended insurance. Is this really warranted for conveyancing in Feltham
Unless a prior acquisition of the house took place after 12 October 2013 you could expect conveyancing practitioners carrying out conveyancing in Feltham to remain encouraging a chancel search and or insurance against a claim.
I am buying a new build apartment in Feltham. Conveyancing is a frightening process 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.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Feltham
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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. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. 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. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I am looking for a ground for flat up to £245,000 and found one round the corner in Feltham I like with open areas and station nearby, the downside is that it only has 61 years on the lease. I can't really find anything else in Feltham for this price, so just wondered if I would be making a mistake buying a short lease?
If you require a home loan that many years may be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this matter.
I need to find a conveyancing solicitor for purchase conveyancing in Feltham. I happened to chance upon a web site which seems to have the ideal solution If it is possible to get all formalities done via email that would be ideal. Should I be wary? 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?