My lawyer has identified a defect with the lease for the property we are purchasing in Kirkstall. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancing practitioner says that he must ensure that the bank is content with this solution. Who is the client here, us or the mortgage company ?
Notwithstanding 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 conditions. You and the mortgage company are the client. The appropriate lender specifications must be adhered to.
We just had an offer accepted to purchase with Norwich and Peterborough Building Society. We have called around locally but cant to find a Kirkstall conveyancing firm on the Norwich and Peterborough Building Society panel. Can you help?
Please do make the most of the search tool on this page. Pick the lender and type Kirkstall or your preferred area and you will be presented with a number of lawyer based in Kirkstall or near you.
Just had an offer accepted on a new build flat in Kirkstall. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Kirkstall
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan.
I have been on the look out for a ground for flat up to £195,000 and identified one close by in Kirkstall I like with amenity areas and railway links in the vicinity, however it only has 49 remaining years left on the lease. I can't really find anything else in Kirkstall for this price, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan that many years may be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
There are only Sixty One years left on my lease in Kirkstall. I now wish to extend my lease but my freeholder is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to locate the lessor. In some cases a specialist should be useful to conduct investigations and prepare an expert document to be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer both on proving the landlord’s absence and the application to the County Court overseeing Kirkstall.
I bought a split level flat in Kirkstall, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Kirkstall with a long lease are worth £180,000. The ground rent is £65 invoiced every year. The lease terminates on 21st October 2083
With only 58 years left to run we estimate the price of your lease extension to range between £21,900 and £25,200 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.
My conveyancing in Kirkstall completes on Friday, however the owners I am purchasing off wishes to move out on the Saturday midday. Can I agree to this?
In situations where you are having a mortgage then your lawyer will demand that the property isvacant on Friday - the bank will demand it.