My lawyer has identified a defect with the lease for the property we are buying in Upper Clapton. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will pay for it. Our property lawyer has advised that he must check that the mortgage company is content with this solution. Who is the client here, us or the mortgage company ?
Notwithstanding that you have a mortgage offer from the bank 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 requirements. You and the lender are the client. The appropriate lender provisions have to be complied with.
Completed the sale of my flat in Upper Clapton last October but the buyer keeps SMS messaging every few hours to say her solicitor is waiting to hear from mine. What should have happened now that I have sold?
After completion of your sale your conveyancer should send the transfer deeds and all additional paperwork to the purchaser's solicitors. Depending on the transaction, your conveyancer should also evidence that the mortgage has been repaid to the purchasers lawyers. There is unlikely to be post completion formalities specific conveyancing in Upper Clapton.
A colleague informed me that in buying a property in Upper Clapton there could be various restrictions affecting the ability to carry out external changes to the property. Is this right?
We are aware of a number of properties in Upper Clapton which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Upper Clapton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
After weeks of negotiation I have agreed a price on a house in Upper Clapton. My mortgage broker pressured me to appoint their conveyancing practitioner. I paid an on account payment of £150. A couple of days later, the conveyancing practitioner contacted me to say that they were not on the Nottingham conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nottingham panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I was told four weeks ago that my mortgage has been agreed to by Barclays. Is it usual for Barclays to only issue the offer once my solicitor in Upper Clapton is approved on their conveyancing panel? Barclays have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
Due to the input of my in-laws I had a survey completed on a house in Upper Clapton prior to retaining conveyancers. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some lenders will not issue a loan on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Upper Clapton. Conveyancing will be smoother if you use a solicitor in Upper Clapton especially if they are familiar with such properties in Upper Clapton.
I am 3 weeks into a leasehold purchase having been directed to solicitors by the high street agent to execute conveyancing in Upper Clapton. I am am starting to be frustrated with the level of service. Can you help me find new solicitors?
A conveyancer would need to be really poor in order to consider diss instructing them. Has the loan offer been sent? In the event that it has you need to inform them of the new contact details and get the offer are re-sent. Your new conveyancer should be on the banks approved list to avoid added expenses and frustration. That should be your starting point. Our search tool will help you find a bank approved conveyancer for your conveyancing in Upper Clapton
I have attempted and failed to negotiate with my landlord to extend my lease without getting anywhere. Can the Leasehold Valuation Tribunal adjudicate on such issues? Can you recommend a Upper Clapton conveyancing firm to help?
if there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to calculate the premium.
An example of a Lease Extension decision for a Upper Clapton residence is Flat 25, Stamford Hill Mansions Stamford Hill in April 2010. The Tribunal therefore determined that the premium to be paid by the lessee to the freeholder for the extension of the lease should be £28,984.00 This case was in relation to 1 flat. The unexpired lease term was 59 years.
Are there common defects that you come across in leases for Upper Clapton properties?
There is nothing unique about leasehold conveyancing in Upper Clapton. Most leases are individual and drafting errors can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:
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A provision to repair to or maintain parts of the property
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Norwich and Peterborough Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to withdraw.