The St Mellons conveyancing firm handling our St Mellons conveyancing has discovered a discrepancy when comparing the surveyor’s assumptions in the home valuation report and what is in the legal papers for the property. My solicitor has advised that he is duty bound to ensure that the lender is OK with this discrepancy and is content to go ahead. Is my lawyer’s stance appropriate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I am told that my conveyancing solicitors will need to check that the building insurance for my purchase of a house in St Mellons. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 15/12/2024, the requirements read as follows :
Will commercial conveyancing searches disclose impending roadworks that may affect a commercial property in St Mellons?
Many commercial conveyancing solicitors in St Mellons will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in St Mellons. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in St Mellons.
For every commercial conveyancing transaction in St Mellons it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can cause delays to St Mellons commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in St Mellons.
Me and my brother own a semi-detached Edwardian house in St Mellons. Conveyancing practitioner acted for me and HSBC Bank. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You need to assess 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in St Mellons and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with your conveyancing solicitor who completed the work.
Over the last few months I have been searching for a flat up to £195,000 and identified one close by in St Mellons I like with a park and station nearby, the downside is that it only has 49 years unexpired on the lease. I can't really find anything else in St Mellons suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a home loan the shortness of the lease will be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in St Mellons. Conveyancing advisers have not yet been appointed. Will they explain the issues?
Most houses in St Mellons are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in St Mellons so you should seriously consider looking for a St Mellons conveyancing solicitor and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your lawyer should report to you on the legal implications.
St Mellons Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing
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Be sure to investigate if the the lease contains any onerous restrictions in the lease. For example plenty of leases prohibit pets being allowed in certain buildings in St Mellons. If you love the flatin St Mellons but your cat can’t make the move with you then you will be faced hard determination. Most St Mellons leasehold apartments will incur a service bill for maintenance of the building levied on behalf of the freeholder. If you purchase the apartment you will have to pay this contribution, usually in instalments throughout the year. This could vary from two or three hundred pounds to thousands of pounds for bigger purpose-built blocks. There will also be a rentcharge to be met annual, this is usually not a significant amount, say approximately £25-£75 but you should to enquire as on occasion it could be many hundreds of pounds.