Our conveyancer has identified a defect with the lease for the flat we are buying in Higham Wood. The seller’s lawyers have offered title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancer says that he must check that the bank is content with this solution. Are we the client or is the lender?
Regardless of the fact 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 provisions. You and the mortgage company are the client. The appropriate lender conditions have to be complied with.
Do lenders provide you with an approved list of Higham Wood conveyancing solicitors? How do you know who is on the Kent Reliance conveyancing panel?
Higham Wood conveyancing firms themselves provide us confirmation that they are on the Kent Reliance conveyancing panel as opposed to being supplied with a list from Kent Reliance directly.
Do the Building Society Association intend to launch a searchable register to to identify firms on the Loughborough BS conveyancing panel for example in Higham Wood?
We are not aware of any intention on the part of the BSA to promote such a search facility.
Taking into account that I am about to part with 450k on a house in Higham Wood I wish to talk to a conveyancer regarding thehome move before giving the go ahead to the firm. Is this something that you can arrange?
This is something that we encourage - it is our preference to talk to you we do not take any clients on without you speaking to the lawyer who will be carrying out your conveyancing in Higham Wood.There is no ‘factory style conveyancing’ - each client is an important person, not a file reference. The solicitors that we put you in touch with believe that the fees you are quoted for your conveyancing in Higham Wood should be the figure that you are charged.
We are a couple of weeks into a leasehold purchase having been recommend to conveyancers by the selling agent to handle our conveyancing in Higham Wood. I am not happy. Can you you assist me in finding new lawyers?
They would have to be really poor in order to consider diss instructing them. Has your mortgage offer been issued? In the event that it has you need to advise them of the new contact details and have the offer are issued to the new lawyers. The solicitor ideally should be on the banks approved list to avoid escalating expenses and complications. So that should be your first question of the new solicitors. The search tool can assist you in finding a bank approved conveyancer for your home move in Higham Wood
I am tempted by the attractive purchase price for a two apartments in Higham Wood both have about 50 years unexpired on the lease term. should I be concerned?
A lease is a right to use the premises for a period of time. As a lease gets shorter the marketability of the lease deteriorates and it becomes more expensive to extend the lease. For this reason it is advisable to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on such properties. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field.
Higham Wood Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
-
Best to be warned if a new roof is being put on or some other significant cost is due shortly that will be shared between the leasehold owners and could well materially impact the level of the service charges or result in a one time invoice. For most Higham Wood leaseholds the outlay for major works tend not to be included within service charges, albeit that some managing agents in Higham Wood ask tenants to pay into a sinking fund and this is used to offset against larger repairs or maintenance. Please tell me if there are any major works in the planning that could increase the maintenance fees?