Our solicitor has discovered a a legal deficiency with the lease for the apartment we are purchasing in Lapworth. The seller’s lawyers have suggested title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must be satisfied that the lender is content with this solution. Are we the client or is the mortgage company ?
Even though you have a mortgage offer from the lender 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 lender are the client. The appropriate lender provisions must be adhered to.
We are buying a property and need a conveyancing solicitor in Lapworth who is on the Virgin Money conveyancing panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Virgin Money . We don't recommend any particular firms conducting conveyancing in Lapworth.
I'm buying my first flat in Lapworth with the aid of help to buy. The sellers refused to move on the amount so I negotiated 6k of additionals instead. The property agent told me not inform my conveyancer about the deal as it may affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Lapworth is the location of the property. What do you suggest?
Flying freeholds in Lapworth are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lapworth you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lapworth may ascertain 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 residence.
Am I better off to instruct a Lapworth conveyancing solicitor who is local to the property I am purchasing? I have an old university friend who can deal with the legal work but her office is 200kilometers drive away.
The benefit of a local Lapworth conveyancing practice is that you can pop in to execute paperwork, present your identification documents and pester them if necessary. Having local Lapworth know how is a benefit. However it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and they were content that must outweigh using an unknown Lapworth conveyancing lawyer just because they are round the corner.
I only have 62 years unexpired on my flat in Lapworth. I am keen to get lease extension but my landlord is missing. What options are available to me?
On the basis that you qualify, 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 enable the lease to be lengthened by the magistrate. However, you will be required to prove that you or your lawyers have done all that could be expected to locate the lessor. For most situations a specialist would be helpful to carry out a search and prepare an expert document to be used as proof that the freeholder can not be located. It is wise to seek advice from a conveyancer both on investigating the landlord’s disappearance and the application to the County Court covering Lapworth.
Lapworth Conveyancing for Leasehold Flats - Sample of Queries before buying
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How many of the leaseholders are in arrears for their service charge payments? The answer will be helpful as a) areas may cause problems in the block as the communal areas may start to deteriorate where maintenance are not paid for b) if the leaseholders have an issue with the running of the building you will need to know about it Who is in charge of the building?