Me and my partner are purchasing a 3 bedroom flat in Lees with a mortgage. We like our Lees solicitor, but the bank says he's not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our Lees solicitor as well as pay for one of their panel firms to represent them. We consider that this is inequitable; are we not able to require that the lender use our Lees conveyancing practitioner ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Lees conveyancing solicitor to apply to be on the conveyancing panel.
Are the Lees conveyancing solicitors identified as being on the Principality conveyancing panel, together with their details provided by Principality?
Lees conveyancing firms themselves provide us confirmation that they are on the Principality conveyancing panel as opposed to being supplied with a list from Principality directly.
I am close to exchanging contracts on the sale of our property in Lees and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A high street Lees conveyancer would know that there is no such problem. For the life of me I don't know why the buyers are using a factory type conveyancing outfit as opposed to a conveyancing solicitor in Lees. We have lived in Lees for many years we know of no issue. Is it a good idea to get in touch with our local Authority to get clarification need.
It would appear that you have a conveyancing lawyer already. Are they able to advise? You need to 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 illness)
I am buying a new build flat in Lees. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Lees
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I opted to have a survey carried out on a property in Lees in advance of appointing solicitors. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some lenders will refuse to give a mortgage on a flying freehold house.
It varies from the lender to lender. Lloyds has different instructions from Halifax. Should you wish to telephone us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Lees. Conveyancing will be smoother if you use a solicitor in Lees especially if they regularly deal with such properties in Lees.
I am tempted by the attractive purchase price for a two apartments in Lees which have approximately forty five years left on the leases. Should I regard a short lease as a deal breaker?
There are no two ways about it. A leasehold apartment in Lees is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it adversely affects the salability of the premises. For most purchasers and lenders, leases with less than 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Lees conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Lees Leasehold Conveyancing - Examples of Queries Prior to buying
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Most Lees leasehold apartments will be liable to pay a service bill for the upkeep of the building invoiced by the landlord. Should you buy the flat you will have to meet this liability, usually quarterly accross the year. This may vary from several hundred pounds to thousands of pounds for buildings with lifts and large common areas. In all probability there will be a ground rent to be met annual, normally this is not a large amount, say around £50-£100 but you need to enquire it because sometimes it can be prohibitively expensive. Are any of leasehold owners in dispute over their service charge liability? Generally speaking the cost for major works are not included within maintenance charges, although a few managing agents in Lees obliged leasehold owners to contribute towards a reserve fund created for the specific purpose of building a fund for major works.