My lawyer has identified a a problem with the lease for the flat we are buying in Hampton Hill. The seller’s lawyers have offered title insurance as a workaround. We are happy with insurance and will cover the costs. Our property lawyer says that he must be satisfied that the lender is willing to move forward with this solution. Are we the client or is the bank?
Even though 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 mortgage company are the client. The appropriate lender provisions must be adhered to.
Various web forums that I have come across warn that are the number one cause of stalling in Hampton Hill house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Local searches are not likely to feature in any holding up conveyancing in Hampton Hill.
I have been on the look out for a flat up to £245,000 and found one close by in Hampton Hill I like with open areas and railway links nearby, however it's only got 52 years unexpired on the lease. There is not much else in Hampton Hill for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan the shortness of the lease will be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I have been sourcing a conveyancing solicitor in Hampton Hill for my house move. Is it possible to see a firm’s record with the legal regulator?
Anyone can review presented Solicitor Regulator Association (SRA) determinations arising from investigations from 2008 onwards. Go to Check a solicitor's record. To find information Pre 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA sometimes monitor call for training reasons.
My wife and I purchased a leasehold flat in Hampton Hill. Conveyancing and Bank of Ireland mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1998. The conveyancing practitioner in Hampton Hill who previously acted has long since retired. What should I do?
First contact the Land Registry to make sure that this person is in fact the new freeholder. It is not necessary to instruct a Hampton Hill conveyancing practitioner to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
After years of dialogue we cannot agree with our landlord on how much the lease extension should cost for our flat in Hampton Hill. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
if there is a missing landlord or if there is disagreement about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to decide the amount due.
An example of a Lease Extension decision for a Hampton Hill flat is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case related to 1 flat. The unexpired term was 60.45 years.
I need to change lawyers as my Hampton Hill lawyer is not on the mortgage company's approved list of conveyancing solicitors. Is it advisable to appoint a new law firm?
If you haven't yet instructed a conveyancer to start work and at this stage simply received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Hampton Hill that you're considering.