My lawyer has uncovered a defect with the lease for the property we are purchasing in Lancashire. The seller’s lawyers have offered title insurance as a solution. We are happy with insurance and will pay for it. Our property lawyer has advised that he must be satisfied that the lender is willing to move forward with this solution. Are we the client or is the lender?
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.
Do the Building Society Association intend to launch a searchable register to list practices on the Loughborough BS conveyancing panel for example in Lancashire?
We would not expect to be advised of any intention on the part of the BSA to promote such a search facility.
I note that there are debates on Chancel Insurance on online forums. Am I compelled to have this when purchasing a property in Lancashire? or I am told that there is a law dating back centuries that could mean that homeowners living in a parish church boundary may be liable to contribute towards repairs to the chancel within the church. Is this applicable for conveyancing in Lancashire?
Unless a previous acquisition of the property completed after 12 October 2013 you may assume that conveyancing practitioners conducting conveyancing in Lancashire to continue to advocate a chancel search and or chancel repair liability policy.
I have justfound out that Stirling Law have been shut down. They carried out my conveyancing in Lancashire for a purchase of a leasehold flat 12 months ago. How can I be sure that the property is in my name in the name of the previous owner?
The easiest method to check if the property is in your name, you can carry out 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 Lancashire conveyancing specialists.
As co-executor for the will of my uncle I am disposing of a property in Monmouth but live in Lancashire. My solicitor (who is 260 miles from meneeds me to sign a statutory declaration prior to completion. Can you recommend a conveyancing solicitor in Lancashire who can attest this legal document for me?
Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are Lancashire based
I would like to sublet my leasehold flat in Lancashire. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
The lease dictates the relationship between the landlord and you the leaseholder; specifically, it will indicate if subletting is prohibited, or permitted but only subject to certain caveats. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Lancashire do not contain strict prohibition on subletting – such a clause would adversely affect the market value the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a copy of the tenancy agreement.
Leasehold Conveyancing in Lancashire - Examples of Queries Prior to Purchasing
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How is the lease structured? You should be aware that where the lease has no more than 80 years it will affect the marketability of the apartment. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will almost definitely have to extend the lease at some point and it is worth finding out how much this would cost. For most Lancashirelease extensions you will be be obliged to have been the owner of the residence for 24 months in order to be eligible to exercise a lease extension. Most Lancashire leasehold properties will have a service bill for the upkeep of the block levied by the landlord. Where you buy the apartment you will have to pay this contribution, normally periodically accross the year. This can differ from several hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a rentcharge for you to pay annual, normally this is not a exorbitant figure, say about £25-£75 but you need to check it because occasionally it could be surprisingly expensive.