My lawyer has uncovered a defect with the lease for the property we are buying in Queen's Park. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our property lawyer says that he must ensure that the lender is willing to move forward with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender 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 solicitor will have no choice but to discontinue acting for you.
I require fast conveyancing in Queen's Park as I am under pressure to exchange contracts inside one month. A mortgage is not required. Can I decline from having conveyancing searches to save money and time?
If.Given you are not taking a home loan you have the choice not to do searches although no solicitor would recommend that you don't. Drawing on years of experience of conveyancing in Queen's Park the following are examples of what can be revealed and therefore affect the marketability of the property: Enforcement Actions, Outstanding Fees, Overdue Grants, Railway Schemes,...
I own a semi-detached Edwardian house in Queen's Park. Conveyancing practitioner represented me and Bank of Scotland. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You need to read 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 Queen's Park and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with the conveyancing lawyer who carried out the work.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Queen's Park is the location of the property. Can you offer any opinion?
Flying freeholds in Queen's Park are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Queen's Park you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Queen's Park may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am downsizing from my home. My past conveyancers closed down. I am in need of a recommendation of a conveyancing firm. I happen to live in Queen's Park if that makes things easier.
You should use our search tool to help you find a solicitor for your conveyancing in Queen's Park. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
Estate agents have just been given the go-ahead to market my ground floor apartment in Queen's Park. Conveyancing is yet to be initiated, however I have recently received a quarterly service charge demand – what should I do?
It best that you clear the maintenance contribution as usual because all rents and service payments should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I am the leaseholder of a ground floor flat in Queen's Park. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
Most definitely. We can put you in touch with a Queen's Park conveyancing firm who can help.
An example of a Freehold Enfranchisement matter before the tribunal for a Queen's Park flat is 4 & 4A Charteris Road in June 2009. the Tribunal held that the price to be paid for the enfranchisement of 4/4a Charteris Road to be £15,510 for at 4and £15,694 for at 4a This case related to 2 flats. The unexpired term was 70.02 years.