My solicitor has discovered a a legal deficiency with the lease for the property we are purchasing in St Leonard Shoreditch. The other side have put forward defective title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor has advised that he must ensure that the bank is happy with this solution. Are we the client or is the mortgage company ?
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 provisions 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 mortgage company are the client. These conveyancing instructions have to be complied with.
I own a freehold property in St Leonard Shoreditch but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in St Leonard Shoreditch and has limited impact for conveyancing in St Leonard Shoreditch but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
We are close to exchanging contracts on the sale of our house in St Leonard Shoreditch and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. A high street St Leonard Shoreditch conveyancer would know that there is no such problem. It does beg the question why the purchasers are using an online conveyancing outfit as opposed to a conveyancing solicitor in St Leonard Shoreditch. Having lived in St Leonard Shoreditch for 5 years we know that this is a non issue. Do we contact our local Authority to seek confirmation that there is no issue.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I have been on the look out for a flat up to £305k and found one near me in St Leonard Shoreditch I like with a park and transport links in the vicinity, the downside is that it's only got 51 years on the lease. I can't really find anything else in St Leonard Shoreditch in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage the shortness of the lease may be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
I'm converting the mortgage on my existing property to a buy to let mortgage with Virgin Money and I will use the ballance of the raised equity as a down payment on a second house. The neighborhood we are looking at is St Leonard Shoreditch. Will your solicitors be able to act for the two lenders and tie in the conveyances?
Do use our search tool on this page to check that the lawyers are approved by both lenders. Assuming that they are the lawyer should be able to connect the two deals but you should have a chat with you conveyancer and make clear your expectations and needs.
In my capacity as executor for the estate of my father I am selling a house in Cardiff but live in St Leonard Shoreditch. My solicitor (who is 250 miles awayhas requested that I execute a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing lawyer in St Leonard Shoreditch to attest this legal document for me?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will do regardless of whether they are based in St Leonard Shoreditch