Our conveyancer has uncovered a a problem with the lease for the apartment we are purchasing in The Hyde. The other side have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancing practitioner has advised that he must check that the mortgage company is happy with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. These conveyancing instructions have to be complied with.
We are purchasing a property and need a conveyancing solicitor in The Hyde who is on the Nationwide solicitor panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Nationwide . We don't recommend any particular firms conducting conveyancing in The Hyde.
Should our solicitor be asking questions about flooding as part of the conveyancing in The Hyde.
The risk of flooding is if increasing concern for solicitors dealing with homes in The Hyde. Plenty of people will acquire a house in The Hyde, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not qualified to offer advice on flood risk, however there are a numerous checks that may be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in The Hyde. The standard completed inquiry forms given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the seller to determine whether the property has historically flooded. If flooding has previously occurred and is not notified by the owner, then a buyer could bring a claim for damages resulting from an inaccurate reply. A purchaser’s lawyers should also order an environmental report. This should indicate if there is any known flood risk. If so, more detailed inquiries should be conducted.
I have a terraced Georgian property in The Hyde. Conveyancing lawyer acted for me and Aldermore. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the matching address. I'd like to know for sure, how can I find out??
You need to review 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in The Hyde and other areas of 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 mortgage companies. You can also enquire as to the situation with the conveyancing lawyer who conducted the work.
I am looking for a leasehold apartment up to £195,000 and found one round the corner in The Hyde I like with amenity areas and transport links in the vicinity, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in The Hyde in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage that many years may be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you may request that they 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 speak to your conveyancing solicitor about this.
At long last a loan offer from a lender for the refinancing of my 2 bedroom garden flat is expected within the next few days. Are you able to recommend a cheap remortgage conveyancing lawyer in The Hyde ?
You are on the wrong site if you are in need of the lowest fares for conveyancing solicitors in The Hyde. Our aim is to provide value for money conveyancing but we do not aim to work with the cheapest lawyers. Do not be fooled by companies offering low cost conveyancing in The Hyde.In your best case scenario, in going for cheap conveyancing, you will get what you pay for and at worst you will end up being stung for extras and still not receive the service required.