My lawyer has discovered a a legal deficiency with the lease for the flat we are purchasing in Goffs Oak. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancer has advised that he must be satisfied that the bank is content with this solution. Who is the client here, us or the bank?
Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the lender are the client. The appropriate lender conditions must be adhered to.
What is the best way to check that the solicitor handling my conveyancing in Goffs Oak is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Nationwide Building Society thus spending £192.00 in supplemental conveyancing charges.
Please do make use of the find a lender approved solicitor tool on this page. Please choose the lender and type ‘Goffs Oak’ or your location and you will be presented with a number of lawyer based in Goffs Oak or nearest you.
I have justbeen informed that Arc property Solicitors have closed. They conducted my conveyancing in Goffs Oak for a purchase of a freehold house 10 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The easiest way to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Goffs Oak conveyancing specialists.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Goffs Oak. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Goffs Oak
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please supply a car parking plan. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Having checked my lease I have discovered that there are only 62 years unexpired on my lease in Goffs Oak. I need to get lease extension but my freeholder is can not be found. What options are available to me?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the Court. You will be obliged to demonstrate that you have made all reasonable attempts to find the lessor. For most situations a specialist would be useful to conduct investigations and prepare a report which can be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Goffs Oak.
I invested in buying a 2 bed flat in Goffs Oak, conveyancing formalities finalised in 2002. How much will my lease extension cost? Corresponding properties in Goffs Oak with a long lease are worth £185,000. The ground rent is £65 per annum. The lease terminates on 21st October 2085
With just 60 years remaining on your lease the likely cost is going to be between £20,000 and £23,000 plus legals.
The suggested premium range 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 in the absence of detailed investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
I have instructed a Goffs Oak conveyancing solicitor for our house purchase (FTB’s) and have picked up in the engagement letter that they are not covered by the Financial Conduct Authority. Am I right to be concerned or is that standard with solicitor?
We can't see why they should be. Most property lawyer don't lend money. You should check that they are regulated by the SRA, who set stringent laws in place on amounts deposited in their bank.