Our Tenbury Wells lawyer has spotted an inconsistency between the surveyor’s assumptions in the home valuation survey and what is in the legal papers for the property. My solicitor has advised that he needs to ensure that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s approach correct?
Your solicitor 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.
Me and my brother own a renovated Victorian house in Tenbury Wells. Conveyancing lawyer acted for me and Platform Home Loans Ltd. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the exact same address. I'd like to know for sure, how can I find out??
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 Tenbury Wells and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with your conveyancing practitioner who conducted the purchase.
About to purchase a new build apartment in Tenbury Wells. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Tenbury Wells
-
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Due to the encouragement of my in-laws I had a survey completed on a property in Tenbury Wells ahead of appointing solicitors. I have been informed that there is a flying freehold element to the property. My surveyor has said that some mortgage companies tend not give a mortgage on a flying freehold house.
It varies from the lender to lender. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Tenbury Wells. Conveyancing will be smoother if you use a solicitor in Tenbury Wells especially if they regularly deal with such properties in Tenbury Wells.
Having had my offer accepted I require leasehold conveyancing in Tenbury Wells. Before I get started I require certainty as to the unexpired term of the lease.
If the lease is recorded at the land registry - and almost all are in Tenbury Wells - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Tenbury Wells Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing
-
This question is helpful as a) areas could cause problems for the building as the communal areas may start to deteriorate where repairs are not paid for b) if the tenants have a dispute with the managing agents you will wish to have all the details Is there a share of the freehold? What is the the remaining lease term?
I have finally had an offer on an maisonette in Tenbury Wells accepted, but there is a chain. The current proprietors have submitted an offer on somewhere, however it’s not yet agreed to, and has viewings of other flats in the pipeline. I have instructed a local conveyancing solicitor in Tenbury Wells. What do I do now? At what point should I apply for the mortgage with Principality?
It is normal to have apprehensions where there is a chain given your reluctance to incur expenses too early (home loan application is approx £1k, then valuation, Tenbury Wells conveyancing search fees, etc). First, you should ensure that your property lawyer is on the Principality approved list. Concerning the next phase this very much depends on the circumstances of your transaction, desire for this property and on the state of the market. During a rising market many home buyers would apply for a home loan with Principality and pay for the valuation and only if it comes back ok would they pay their lawyer to move forward with searches.