Our lawyer has identified a a problem with the lease for the apartment we are buying in Watlington. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer has advised that he must check that the lender is willing to move forward with this solution. Are we the client or is the bank?
Even though 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 conditions. You and the lender are the client. The appropriate lender requirements must be adhered to.
I have todaybeen informed that Arc property Solicitors have been shut down. They conducted my conveyancing in Watlington for a purchase of a freehold house 18 months ago. How can I establish that the property is registered correctly in the name of the former proprietor?
The easiest way to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Watlington conveyancing specialists.
How does conveyancing in Watlington differ for new build properties?
Most buyers of new build residence in Watlington come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Watlington tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Watlington or who has acted in the same development.
I am looking for a ground for flat up to £245,000 and found one round the corner in Watlington I like with amenity areas and station nearby, however it only has 49 years unexpired on the lease. There is not much else in Watlington suitable, so just wondered if I would be making a grave error buying a short lease?
Should you need a home loan the remaining unexpired lease term will be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
Hoping to buy a property located in Watlington and I am already nervous. I couldn't find anything specific about Watlington. Conveyancing will be needed in due course but do you know about the Watlington area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Watlington. In the meantime here are some basic statistics that we found
I am looking for Watlington competitive conveyancing fees. Can I be confident that all the Watlington firms that are listed on your directory are on the lender conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have assured us via an online form that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the bank panel. To date we have not been informed by either a lender or a member of the public that the data about a specific Watlington conveyancing solicitor being on the mortgage company conveyancing panel is not accurate.