Our conveyancer has identified a a legal deficiency with the lease for the apartment we are buying in Newcastle under Lyme. The seller’s lawyers have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that he must be satisfied that the lender is content with this solution. Who is the client here, us or the bank?
Regardless of the fact that you have a mortgage offer from the mortgage company 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 conditions. You and the lender are the client. These conveyancing instructions have to be complied with.
We are buying a house and require a conveyancing solicitor in Newcastle under Lyme who is on the Skipton approved panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Skipton . We don't recommend any particular firms conducting conveyancing in Newcastle under Lyme.
I require fast conveyancing in Newcastle under Lyme as I have an ultimatum to complete within one month. Luckily I do not need a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
If.Given you are not taking a home loan you are at free not to do searches although no conveyancer would recommend that you don't. With plenty of history conveyancing in Newcastle under Lyme the following are instances of what can be revealed and therefore impact future saleability: Refused Planning Applications, Overdue Charges, Overdue Grants, Unadopted Roads,...
How does conveyancing in Newcastle under Lyme differ for newly converted properties?
Most buyers of new build residence in Newcastle under Lyme approach us having been asked by the developer to exchange contracts and commit to the purchase even before the house is constructed. This is because developers in Newcastle under Lyme tend to purchase the land, 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 accustomed to new build conveyancing in Newcastle under Lyme or who has acted in the same development.
Are there any apps to help locate a Newcastle under Lyme solicitor on the Coventry Building Society conveyancing panel? I drive a motor bike and am prepared to travel upto 10miles to meet the solicitor.
Feel free to make use of the facility on this page. Please pick a lender and your location and you will see a number of Newcastle under Lyme conveyancing lawyers located nearest you. We have listed some Newcastle under Lyme conveyancing firms at the bottom of this page and you can ring them to see whether they are on the Coventry Building Society panel
Are there frequently found deficiencies that you see in leases for Newcastle under Lyme properties?
Leasehold conveyancing in Newcastle under Lyme is not unique. All leases are drafted differently and drafting errors can sometimes mean that certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:
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Maintenance charge proportions which don’t add up to the correct percentage
You will have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, forcing the purchaser to withdraw.
I am the registered owner of a 2 bed flat in Newcastle under Lyme, conveyancing formalities finalised in 2009. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Newcastle under Lyme with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease comes to an end on 21st October 2081
With only 55 years unexpired we estimate the premium for your lease extension to range between £31,400 and £36,200 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.