My conveyancer has identified a a problem with the lease for the property we are purchasing in Sherwood. The seller’s lawyers have put forward title insurance as a solution. We are content with insurance and will pay for it. Our solicitor has advised that he must check that the bank is content with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company 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 property lawyer will have no choice but to discontinue acting for you.
Despite weeks of looking the Title Certificate and documents to my property can not be found. The solicitors who handled the conveyancing in Sherwood 5 years ago are no longer around. Will I be able to sell the house?
Gone are the days when you need to hold title official documentation to evidence that you own the land or property, given that the Land Registry hold details of all registered land or property electronically.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one round the corner in Sherwood I like with open areas and railway links nearby, the downside is that it's only got 52 years unexpired on the lease. I can't really find anything else in Sherwood for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a mortgage the remaining unexpired lease term will likely be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
I am looking to sell my house. My past conveyancers has retired. I am in need of a recommendation of a conveyancing firm. I happen to live in Sherwood if that makes things easier.
You should use our search tool to help you choose a solicitor for your conveyancing in Sherwood. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.
I am using a search engine for the phrase on line conveyancing in Sherwood it brings up numerous conveyancersin the vicinity. How do I determine which is the suitable property lawyer for the sale of my house?
The ideal way of finding a suitable conveyancer is via personal recommendation, so enquire of colleagues and relatives who have acquired a property in Sherwood or a local estate agent or mortgage broker. Fees for conveyancing in Sherwood differ, so it's a good idea to obtain a minimum of three estimates from varying types of law firms. Be sure to seek confirmation that the charges are assured not to escalate.
I dont have enough spare money to pay a 10% deposit on my apartment purchase in Sherwood , but I still want to exchange. What can I do?
You can agree a lower deposit. Many property owners will agree to a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second