Our conveyancer has discovered a a problem with the lease for the apartment we are purchasing in West Derby. The other side have suggested title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer has advised that he must be satisfied that the mortgage company is content with this solution. Are we the client or is the mortgage company ?
Even though you have a mortgage offer from the lender 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 lender are the client. The appropriate lender requirements have to be complied with.
I am planning on selling our property in West Derby and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. A local conveyancer would know that there is no such problem. It does beg the question why the purchasers used a nationwide conveyancing outfit rather than a conveyancing solicitor in West Derby. We have lived in West Derby for 5 years we know that this is a non issue. Should we get in touch with our local Authority to obtain confirmation need.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
The deeds to our home are lost. The lawyers who handled the conveyancing in West Derby 4 years ago no longer exist. What are my options?
Nowadays there are copies made of almost everything, and your lawyer will be aware exactly where to locate all the suitable paperwork so you may purchase or dispose of your house without a hitch. If duplicates can’t be found, your solicitor can put in place insurance or indemnities against possible claims on your premises.
I am buying my first flat in West Derby with a mortgage from Leeds Building Society. The sellers would not move on the price so I negotiated £7000 of extras instead. The estate agent suggested that I not disclose to my conveyancer about the extras as it will impact my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I wish to let out my leasehold flat in West Derby. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A small minority of properties in West Derby do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
I am the registered owner of a basement flat in West Derby, conveyancing was carried out half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in West Derby with over 90 years remaining are worth £181,000. The ground rent is £55 invoiced every year. The lease finishes on 21st October 2076
You have 51 years left to run we estimate the premium for your lease extension to range between £30,400 and £35,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
My aim is to acquire a garden flat in West Derby. Conveyancing solicitor has been waiting for, from the owner, building insurance documents. This afternoon I was advised that the owner must send the insurance documents for the flat above in addition. Why does my conveyancer want to review the insurance for the other flat? Is it really necessary? We have been stalled for the last fortnight…
It is not impossible in leasehold conveyancing in West Derby to discover Conveyancing in West Derby in a minority of cases reveals that the lease obliges the leasehold owners to insure their individual flats rather than the freeholder insuring the entire building - which is definitely preferable. Do clarify with your conveyancing practitioner but it would seem that your lawyer is seeking to establish that the entire building is insured. Insuring a ground floor residence is no help when it comes to rebuilding after a fire if the 1st floor cannot be reinstated as a result of lack of insurance cover.