Our conveyancer has identified a a legal deficiency with the lease for the flat we are purchasing in Westbourne. The seller’s lawyers have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our property lawyer has advised that he must be satisfied that the bank is happy with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
I have recentlydiscovered that Action Conveyancing have closed. They conducted my conveyancing in Westbourne for a purchase of a leasehold flat 10 months ago. How can I establish that the property is registered correctly in the name of the former proprietor?
The quickest method to see 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 Westbourne conveyancing specialists.
I opted to have a survey completed on a house in Westbourne in advance of appointing lawyers. I have been told that there is a flying freehold element to the property. My surveyor has said that some banks will refuse to grant a loan on this type of premises.
It depends who your proposed lender is. Lloyds has different requirements for example to Nationwide. If you contact us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Westbourne. Conveyancing will be smoother if you use a solicitor in Westbourne especially if they are accustomed to such properties in Westbourne.
In what way does the Landlord & Tenant Act 1954 impact my commercial offices in Westbourne and how can you help?
The 1954 Act gives a safeguard to business tenants, giving them the a statutory right to make a request to court for a renewal tenancy and remain in occupation when the lease reaches an end. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Westbourne is one of the many areas of the UK in which the firms we work with have offices
I need to appoint a conveyancing solicitor for my conveyancing in Westbourne. I happened to stumble upon a web site which appears to be the perfect answer If it is possible to get all the legals done via web that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Can you provide any top tips for leasehold conveyancing in Westbourne with the aim of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Westbourne can be reduced where you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ representatives. In the event that you altered the property did you need the Landlord’s approval? In particular have you laid down wooden flooring? Westbourne leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord approving such alterations. Should you dont have the approvals to hand you should not contact the landlord without checking with your lawyer first. If you hold a share in a the Management Company, you should make sure that you have the original share document. Arranging a duplicate share certificate is often a time consuming process and delays many a Westbourne home move. If a duplicate share is necessary, you should approach the company officers or managing agents (if relevant) for this sooner rather than later. You believe that you know the number of years left on your lease but you should verify this by asking your solicitors. A buyer’s lawyer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 75 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. The majority of landlords or managing agents in Westbourne levy fees for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack sought on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common reason for frustration in leasehold conveyancing in Westbourne.
Leasehold Conveyancing in Westbourne - A selection of Queries before Purchasing
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You should be aware if it is fewer than eighty years it will have adverse implications on the marketability of the property. It is worth checking with your bank that they are willing to go ahead with the loan given the lease term. A short lease means that you will most likely have to extend the lease sooner rather than later and it is worth finding out how much this would cost. For most Westbournelease extensions you would need to own the property for two years before you are eligible to exercise a lease extension. Make sure you discover if the the lease contains any onerous restrictions in the lease. By way of example it is very common in Westbourne leases that pets are not permitted in in a block in Westbourne. If you like the apartmentin Westbourne yet your dog can’t make the move with you then you will be presented with a hard choice.