My solicitor has discovered a defect with the lease for the flat we are buying in Ickenham. The other side have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our property lawyer says that he must ensure that the bank is content with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender 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 conveyancing practitioner will have no choice but to discontinue acting for you.
Having sold my house in Ickenham last October yet the purchaser is texting me to say his conveyancer is waiting to hear from mine. What are the post completion sale legalities now that I have sold?
Post completion of your disposal your lawyer is obliged to send the transfer documentation and all supplemental paperwork to the buyer’s solicitors. If applicable, your solicitor should also evidence that the home loan has been repaid to the purchasers solicitors. There are no post completion tasks peculiar conveyancing in Ickenham.
My relative suggested that where I am buying in Ickenham I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Ickenham conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Ickenham around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Ickenham Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful data concerning Ickenham.
How does conveyancing in Ickenham differ for newly converted properties?
Most buyers of new build premises in Ickenham approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is completed. This is because developers in Ickenham typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Ickenham or who has acted in the same development.
How do I identify a Ickenham law firm on the Birmingham Midshires conveyancing panel? I drive a motor bike and am happy to travel upto 25miles to meet the lawyer.
You can use the facility on this page. Please select a mortgage company and your location and you will see a number of Ickenham conveyancing lawyers based on proximity. We have listed some Ickenham conveyancing firms at the bottom of this page and you can call them to see whether they are on the Birmingham Midshires approved list
Last August I purchased a leasehold property in Ickenham. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
My wife and I have hit a brick wall in negotiating a lease extension in Ickenham. Can the Leasehold Valuation Tribunal adjudicate on premiums?
You certainly can. We can put you in touch with a Ickenham conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Ickenham property is Flat 72 Queens Walk in January 2013. The Tribunals calculated the premium payable to be £22,090. This case related to 1 flat. The unexpired term was 53.26 years.