My partner and I are planning to buy a flat in Lewes and have instructed a Lewes conveyancing practice. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Norwich and Peterborough Building Society have this afternoon contacted us to inform me that there is now an issue as our Lewes lawyer is not on their conveyancing panel. Is this a problem?
Where you are buying a property requiring a mortgage it is usual for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Lewes solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We are looking to buy a flat and require a conveyancing solicitor in Lewes who is on the Kent Reliance approved 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 Kent Reliance . We don't recommend any particular firms conducting conveyancing in Lewes.
I am buying a property and the conveyancer has referenced Chancel Repair to which the house may be obligated to contribute to given it’s proximity to the area of such a church. He has recommended insurance. Is this really appropriate for conveyancing in Lewes
Unless a previous acquisition of the house completed after 12 October 2013 you can take it that lawyers carrying out conveyancing in Lewes to remain recommending a chancel search and or insurance against a claim.
I am buying a new build apartment in Lewes. 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 are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Lewes
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Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Due to the input of my in-laws I had a survey completed on a property in Lewes in advance of appointing lawyers. I have been informed that there is a flying freehold element to the property. The surveyor has said that some mortgage companies may not issue a mortgage on this type of premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. If you call us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Lewes. Conveyancing may be slightly more expensive based on your lender's requirements.
Due to exchange soon on a garden flat in Lewes. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Lewes should include some of the following:
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Whether your lease provides for a sinking account for major repairs? How long the lease is. You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years Specifying your legal entitlements in relation to the communal areas in the building.For instance, does the lease provide for a right of way over a path or staircase? Does the lease prevent you from letting out the property, or working from home The landlord’s rights to access the premises. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided.
Leasehold Conveyancing in Lewes - Examples of Questions you should consider Prior to buying
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Are any of leasehold owners in arrears of their service charge liability? You should be aware if it is no more than 80 years it will affect the value of the apartment. Check with your lender that they are happy with remaining years on the lease. A short lease means that you will probably have to extend the lease at some point and it is worth finding out how much this would cost. For most Leweslease extensions you will need to own the residence for 24 months in order to be legally able to exercise a lease extension. The prefered form of lease arrangement is a share of the freehold. In this situation the tenants have control and even though a managing agent is frequently employed if it is larger than a house conversion, the managing agent retained by the leaseholders.