My lawyer has discovered a a problem with the lease for the property we are buying in Ireleth and Askam. The other side have put forward title insurance as a solution. We are content with insurance and will pay for it. Our conveyancing practitioner says that he must ensure that the lender is content with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook requirements. 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 conveyancer will have no choice but to discontinue acting for you.
It is a dozen years since I bought my property in Ireleth and Askam. Conveyancing lawyers have recently been appointed on the sale but I can't locate my title deeds. Is this a major issue?
Don’t worry too much. First there is a possibility that the deeds will be kept by your lender or they could be in the possession of the solicitor who acted in your purchase. Secondly in most cases the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors acquiring up to date copy of the land registers. Most conveyancing in Ireleth and Askam involves registered property but in the unlikely event that your property is unregistered it adds to the complexity but is not insurmountable.
I am planning to acquire a property and need a conveyancing solicitor in Ireleth and Askam who is on the TSB conveyancing. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for TSB in certain locations such as Ireleth and Askam. We dont recommend any particular firm.
I am purchasing a 4 bedroom semi-detached house in Ireleth and Askam. We would like to convert the garage to an office at the property.Will legal conveyancing on the property include enquiries to determine if these works were previously refused?
Your property lawyer should review the registered title as conveyancing in Ireleth and Askam will on occasion identify restrictions in the title documents which prohibit certain works or necessitated the permission of a 3rd party. Many works call for local authority planning consent and approval in compliance with building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Ireleth and Askam conveyancing practitioner on the Leeds Building Society panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Ireleth and Askam bank branch on numerous occasions and was informed it wasn't a problem and they would lend. My Ireleth and Askam conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend in accordance with their specific requirements. Who do I believe?
The solicitor has to comply with the Council of Mortgage Lenders’ Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I need to retain a conveyancing solicitor for residential conveyancing in Ireleth and Askam. I've land on a site which seems to have the ideal answer If there is a chance to get all this stuff done via phone that would be ideal. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I work for a reputable estate agency in Ireleth and Askam where we see a few leasehold sales put at risk as a result of short leases. I have been given inconsistent advice from local Ireleth and Askam conveyancing solicitors. Can you shed some light as to whether the seller of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I invested in buying a leasehold flat in Ireleth and Askam, conveyancing having been completed October 2007. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Ireleth and Askam with a long lease are worth £185,000. The ground rent is £65 charged once a year. The lease ceases on 21st October 2085
With only 60 years unexpired we estimate the price of your lease extension to span between £20,000 and £23,000 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure 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 should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.