Our lawyer has uncovered a defect with the lease for the flat we are purchasing in Maze Hill. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor has advised that he must be satisfied that the mortgage company is happy with this solution. Who is the client here, us or 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 requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank 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 conveyancer will have no choice but to discontinue acting for you.
When it comes to mortgage companies such as Virgin Money, do Maze Hill lawyers face an annual charge to be on the list of approved solicitors?
We are unaware of any mortgage company fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
is it true that all Maze Hill solicitor firms on the Clydesdale conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Clydesdale approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Some lenders do allow licenced conveyancers on their panel and in that case the organisation would be governed by the CLC.
We previously chose solicitors with offices in Maze Hill on the HSBC solicitor approved list. They are now charging me a supplemental fee for handling the HSBC mortgage. Is this a supplemental conveyancing fee set by HSBC?
Provided it is contained in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. The fee is not dictated by HSBC but by your Maze Hill lawyer. Some firms on the HSBC panel will quote ’dealing with mortgage’ fee but plenty of practices include it on their overall fee.
Me and my brother have a renovated Georgian property in Maze Hill. Conveyancing practitioner acted for me and Chelsea Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Maze Hill and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing solicitor who conducted the purchase.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Maze Hill. 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 conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Maze Hill
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I have attempted and failed to negotiate with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Maze Hill conveyancing firm to represent me?
Absolutely. We can put you in touch with a Maze Hill conveyancing firm who can help.
An example of a Lease Extension decision for a Maze Hill flat is 73 Walerand Road in August 2012. the result of the findings of the Tribunal led to a premium to be paid for the extended lease in respect of Flat 73 in the sum of £10,040. The premium applicable in respect of Flat 85 was £5,710. This case was in relation to 2 flats. The number of years remaining on the existing lease(s) was 72 years.
What makes a Maze Hill lease unmortgageable?
Leasehold conveyancing in Maze Hill is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain clauses are erroneous. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts. A provision to repair to or maintain elements of the premises
You could have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Barnsley Building Society, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.
Would local authority permission be required to change a single dwelling into two flats in Maze Hill? This has been carried out to a property adjacent to my house in Maze Hill and was not aware of it happening until it was done.
Planning Consent yes. Building Regulations yes.