Our conveyancer has discovered a a problem with the lease for the property we are buying in Staines. The other side have put forward defective title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancing practitioner has advised that he must be satisfied that the bank is happy with this solution. Are we the client or is the bank?
Notwithstanding 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 provisions. You and the bank are the client. These conveyancing instructions have to be complied with.
Our lender has recommended a law firm on their panel based in Staines but I would rather choose a conveyancing lawyer in Staines or nearer to where I live. Can you assist?
Not all Staines conveyancing practitioners are on all banks conveyancing panel. Use the above find an approved solicitor tool to locate a Staines conveyancing solicitor on the on the mortgage company panel.
I am looking for a leasehold apartment up to £195,000 and identified one round the corner in Staines I like with a park and railway links nearby, however it only has 49 years unexpired on the lease. There is not much else in Staines for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan the shortness of the lease will likely be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
Hoping to buy a property located in Staines and I am already nervous. I couldn't find anything specific about Staines. Conveyancing will be needed in due course but do you know about the Staines area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Staines. In the meantime here are some basic statistics that we found
My partner and I may need to rent out our Staines basement flat temporarily due to taking a sabbatical. We instructed a Staines conveyancing firm in 2003 but they have closed and we did not think at the time get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
The lease governs the relationship between the freeholder and you the flat owner; specifically, it will set out if subletting is not allowed, or permitted but only subject to certain caveats. The rule is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Staines do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
I have tried to negotiate informally with with my landlord to extend my lease without success. Can the Leasehold Valuation Tribunal adjudicate on such matters? Can you recommend a Staines conveyancing firm to assist?
Most certainly. We can put you in touch with a Staines conveyancing firm who can help.
An example of a Lease Extension case for a Staines flat is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case was in relation to 1 flat. The remaining number of years on the lease was 82.93 years.
I am hoping to put an offer on a small detached house that seems to tick a lot of boxes, at a reasonable price which is making it all the more appealing. I have just discovered that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a leasehold house in Staines. Conveyancing solicitors have are soon to be instructed. Will my lawyers set out the risks of buying a leasehold house in Staines ?
The majority of houses in Staines are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Staines so you should seriously consider looking for a Staines conveyancing practitioner and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions for example obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your solicitor should advise you fully on all the issues.