My lawyer has uncovered a defect with the lease for the apartment we are buying in New Brighton. The other side have offered title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that he must check that the bank is willing to move forward with this solution. Are we the client or is the bank?
Notwithstanding that you have a mortgage offer from the bank 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 specifications. You and the bank are the client. These conveyancing instructions have to be complied with.
When will exchange of contracts happen for sale conveyancing in New Brighton and do I need to be at the solicitors branch?
Where you are round the corner to one of the conveyancing solicitors in New Brighton you are invited in to sign the paperwork. That being said, the law practices we recommend offer a nationwide conveyancing service and give as equally comprehensive and professional a job for you when dealing with you electronically. The signing of the purchase agreement is not when everything is set in stone. A signed contract is necessary for the conveyancer to exchange contracts when the time is right, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in New Brighton)to be in the office available at the end of the phone to exchange contracts.
Do the Building Society Association intend to launch a online directory to list solicitors on the Darlington Building Society conveyancing panel for instance in New Brighton?
We are not aware of any intention on the part of the BSA to develop such a tool.
What will a local search tell me regarding the house I am purchasing in New Brighton?
New Brighton conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search organisations such as Onsearch The local search is essential in every New Brighton conveyancing purchase; as long as you wish to avoid any nasty surprises after you move into your property. The search should supply data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
Due to the input of my in-laws I had a survey completed on a property in New Brighton prior to retaining conveyancers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies may refuse to give a mortgage on this type of premises.
It varies from the lender to lender. HSBC has different instructions from Nationwide. If you contact us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in New Brighton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in New Brighton to see if the conveyancing costs will increase in light of this.
I own a leasehold flat in New Brighton. Conveyancing and Bank of Scotland mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing solicitor in New Brighton who acted for me is not around. What should I do?
First contact HMLR to be sure that this person is in fact the new freeholder. You do not need to instruct a New Brighton conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I invested in buying a leasehold flat in New Brighton, conveyancing having been completed in 2005. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in New Brighton with a long lease are worth £190,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease ceases on 21st October 2086
You have 61 years unexpired the likely cost is going to span between £19,000 and £22,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.