The Westbury conveyancing firm handling our Westbury conveyancing has spotted an inconsistency when comparing the information in the valuation survey and what is in the title deeds. My solicitor informs me that he needs to check that the lender is OK with this discrepancy and is content to go ahead. Is my lawyer’s course or action appropriate?
Your conveyancer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
It is a dozen years since I purchased my property in Westbury. Conveyancing lawyers have just been retained on the sale but I am unable to track down my title deeds. Is this a problem?
Don’t worry too much. Firstly the deeds may be kept by the lender or they could be in the possession of the solicitor who handled the purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors obtaining up to date copy of the land registers. Most conveyancing in Westbury relates to registered property but in the unlikely event that your home is unregistered it is more tricky but is resolvable.
How does conveyancing in Westbury differ for new build properties?
Most buyers of new build or newly converted property in Westbury approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Westbury usually acquire 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 conveyancing solicitors 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 accustomed to new build conveyancing in Westbury or who has acted in the same development.
I'm converting the mortgage on my existing property to a buy to let loan with Clydesdale and intend to use the remaining equity as a down payment on further property. The location we are interested in is Westbury. Will your solicitors be able to act for the two lenders and link together the conveyances?
Do use our comparison tool on this site to ensure that the conveyancers are on the appropriate lender panels. On the basis that they are your conveyancer will be able to tie up the two deals but you should talk with you lawyer and make apparent your desired outcome and needs.
Back In 2005, I bought a leasehold house in Westbury. Conveyancing and Aldermore mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1995. The conveyancing solicitor in Westbury who acted for me is not around. Any advice?
The first thing you should do is make enquiries of HMLR to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to instruct a Westbury conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Leasehold Conveyancing in Westbury - Examples of Questions you should ask Prior to Purchasing
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Most Westbury leasehold apartments will have a service charge for maintenance of the building levied on behalf of the management company. Where you buy the property you will have to pay this contribution, normally quarterly accross the year. This can vary from a couple of hundred pounds to thousands of pounds for buildings with lifts and large communal areas. There will also be a ground rent to be met annual, this is usually not a significant figure, say approximately £25-£75 but you should to enquire as sometimes it could be many hundreds of pounds. The best form of lease structure is if the freehold interest is owned by the leaseholders. In this scenario the lessees enjoy being in charge if their destiny and although a managing agent is usually retained if it is larger than a house conversion, the managing agent acts for the leaseholders themselves.
My plan is to purchase a ground floor maisonette in Westbury. Conveyancing solicitor has been awaiting, from the seller, building insurance schedule. Earlier today I was informed that the vendor needs to forward the insurance documents for the flat above as well. Why would my solicitor need to check the insurance for the flat above? Is it strictly necessary? We have been stalled for the previous 2 weeks…
It is not impossible in leasehold conveyancing in Westbury to find Conveyancing in Westbury in a minority of cases reveals that the lease requires the leasehold owners to insure their individual flats rather than the freeholder insuring the complete building - which is definitely better. Do check with your solicitor but it would seem that your lawyer is looking to verify that the whole building is insured. Insuring a ground floor flat is no help when it comes to rebuilding after a fire if the 1st floor cannot be rebuilt due to lack of insurance cover.