My solicitor has uncovered a defect with the lease for the apartment we are buying in Meltham. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancer says that he must be satisfied that the lender is willing to move forward with this solution. Are we the client or is the lender?
Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the bank are the client. The appropriate lender requirements must be adhered to.
We are planning to acquire a flat and require a conveyancing solicitor in Meltham who is on the RBS approved panel. Can you recommend a local 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 RBS . We don't recommend any particular firms conducting conveyancing in Meltham.
I have been told that property searches are a common reason for stalling in Meltham house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any holding up conveyancing in Meltham.
The deeds to my house can not be found. The lawyers who conducted the conveyancing in Meltham 4 years ago no longer exist. What do I do?
You no longer need to have the physical official documentation to establish that you own the land or property, given that the Land Registry have everything they need in a digital format.
How does conveyancing in Meltham differ for newly converted properties?
Most buyers of new build or newly converted property in Meltham approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Meltham tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Meltham or who has acted in the same development.
I am on look out for some leasehold conveyancing in Meltham. Before I get started I want to be sure as to the number of years remaining on the lease.
If the lease is registered - and most are in Meltham - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I acquired a 2 bed flat in Meltham, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Meltham with an extended lease are worth £195,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease ceases on 21st October 2090
With 64 years left to run we estimate the price of your lease extension to be between £14,300 and £16,400 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.