Our lawyer has discovered a a legal deficiency with the lease for the property we are purchasing in Hayle. The other side have put forward title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must check that the mortgage company is content with this solution. Who is the client here, us or the mortgage company ?
Notwithstanding that you have a mortgage offer from the lender 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 provisions. You and the lender are the client. These conveyancing instructions have to be complied with.
Is it the case that all Hayle CQS (Conveyancing Quality Scheme) solicitors are on the Leeds Building Society conveyancing panel?
It is true that some banks and building societies now make use of the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
We have a mortgage agreed in principle with Santander. Hayle conveyancing practitioners were chosen. What is the average time that one could expect to receive a mortgage offer from Santander?
There is no definitive answer here. Have Santander done the survey? Have you informed Santander as to your lawyers' details and checked that your lawyers are on the Santander conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am expecting a AIP from Nationwide this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nationwide recommend any Hayle solicitors on the Nationwide conveyancing panel, or is it better to go independently?
You will need to appoint Hayle solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Hayle?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Hayle. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a leasehold apartment up to £235,500 and found one near me in Hayle I like with open areas and station nearby, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Hayle suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage that many years will be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign 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 matter.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £325,000 maisonette in Hayle in 8 days. The management company has quoted £300 for Landlord’s certificate, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Hayle?
For most leasehold sales in Hayle conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Answering conveyancing due diligence questions
Where consent is required before sale in Hayle
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
I am the registered owner of a basement flat in Hayle, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Similar flats in Hayle with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 levied per year. The lease ceases on 21st October 2096
With 71 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 plus professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously 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.
If instructed can a conveyancer remove someone from the title of my home in Hayle ?
Removing or adding someone to the title of your property is relatively straightforward. You’ll need to appoint a conveyancer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a property lawyer