I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Willen. My lender is Virgin
Virgin have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 15/11/2024, the requirements read as follows :
My wife and I have a renovated Edwardian house in Willen. Conveyancing solicitor acted for me and Clydesdale. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold with the matching property. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Willen and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with the conveyancing practitioner who conducted the purchase.
Due to the guidance of my in-laws I had a survey completed on a house in Willen before instructing solicitors. I have been advised that there is a flying freehold overhang to the property. My surveyor advised that some banks may refuse to issue a loan on this type of home.
It depends who your proposed lender is. Santander has different instructions from Birmingham Midshires. Should you wish to telephone us we can check with 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 Willen. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Willen to see if the conveyancing costs will increase in light of this.
I'm remortgaging my current home to a buy to let loan with Coventry Building Society and I will use the ballance of the raised equity towards another house. The area we are looking at is Willen. Will your solicitors be able to act for both sets of lenders and link together the conveyances?
Do use our comparison tool on this site to ensure that the solicitors are approved by both banks. On the basis that they are the lawyer should be able to connect the two deals but you should have a chat with you solicitor and make clear your expectations and needs.
In my capacity as executor for the will of my grandfather I am selling a property in Cardiff but live in Willen. My lawyer (who is 300 miles from merequires that I execute a stat dec before completion. Can you recommend a conveyancing practitioner in Willen who can attest and place their company stamp on the document?
strictly speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are based in Willen
Do you have any top tips for leasehold conveyancing in Willen with the aim of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Willen can be bypassed where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold information needed by the purchasers’ representatives. You believe that you know the number of years remaining on your lease but you should verify this by asking your lawyers. A purchaser's lawyer will not be happy to advise their client to to exchange contracts if the lease term is under 75 years. It is therefore important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. If you have had conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be nervous about purchasing a flat where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the purchasers, but it is better to present the dispute as historic rather than unsettled. Some Willen leases require Licence to Assign from the landlord. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. Many freeholders or Management Companies in Willen levy fees for providing management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Willen.
Willen Leasehold Conveyancing - Sample of Queries Prior to Purchasing
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How many years remain on the lease? Is there a share of the freehold? Who takes responsibility for maintaining and repairing the block?