Our solicitor has discovered a defect with the lease for the flat we are buying in Ilford. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor says that he must be satisfied that the bank is happy with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank 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 solicitor will have no choice but to discontinue acting for you.
We are selling our house in Ilford and according to the buyers it appears that there is a possibility that the property was built land that was not decontaminated. Any high street Ilford lawyer would know that there is no such problem. It does beg the question why the buyers are using a national conveyancing practice as opposed to a conveyancing solicitor in Ilford. We have lived in Ilford for 4 years we know that this is a non issue. Should we contact our local Authority to obtain confirmation need.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I have recentlydiscovered that Wolstenholmes have closed. They conducted my conveyancing in Ilford for a purchase of a freehold house 18 months ago. How can I check that my home is in my name in the name of the former proprietor?
The easiest method to see if the premises is registered to you, 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 Ilford conveyancing specialists.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Ilford is where the house is located. Can you shed any light on this issue?
Flying freeholds in Ilford are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ilford you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ilford may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I'm converting the mortgage on my current house to a buy to let mortgage with Norwich and Peterborough Building Society and intend to use the remaining equity as a deposit on a second property. The area we are looking at is Ilford. Will your conveyancers be able to act for the two mortgage companies and tie in the conveyances?
Make use of our search tool on this site to check that the conveyancers are on the relevant lender panels. On the basis that they are your solicitor should be able to simultaneously deal with the two transactions but you should talk with you solicitor and make apparent your desired outcome and needs.
Looking forward to sign contracts shortly on a garden flat in Ilford. Conveyancing lawyers have said that they report fully on Monday. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Ilford should include some of the following:
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Additions to the premises Defining your rights in respect of the communal areas in the building.For example, does the lease permit a right of way over a path or hallways? You should have a good understanding of the insurance provisions specifics of the parties to the lease, e.g. these could be the (you), superior lessor, landlord Where does the liability rest to repair and maintain the block. It is important for you to know which party is duty bound to repair and maintenance of every part of the building
Following months of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Ilford. Can we issue an application to the Residential Property Tribunal Service?
Where there is a missing landlord or if there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the LVT to decide the price.
An example of a Lease Extension decision for a Ilford premises is 49 Aldborough Road South in July 2012. The Tribunal decided that the premium payable for the grant of the new lease was £13,925 This case was in relation to 1 flat. The remaining number of years on the lease was 61.36 years.