Our solicitor has identified a a legal deficiency with the lease for the property we are buying in Chipstead. The seller’s lawyers have put forward title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancer says that he must check that the lender is content with this solution. Who is the client here, us or the lender?
Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their requirements 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. These conveyancing instructions must be adhered to.
We are getting the release of further funds on our home loan from Skipton as we wish to conduct renovations to our house in Chipstead. Do we need to select a local Chipstead solicitor on the Skipton conveyancing panel to deal with the legals?
Skipton don't usually instruct firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton conveyancing panel.
I am due to exchange contracts on my house. I had a double glazing fitted in February 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Skipton are being difficult. The Chipstead solicitor who is on the Skipton conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Skipton are requiring a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Coventry BS have agreed my home loan in principle, my offer on a apartment in Chipstead has been accepted, what happens next?
The estate agent will wish to be advised as to your conveyancing practitioner's details (make sure the conveyancers are on the lender’s panel). Telephone Coventry BS or the broker and finish off any relevant forms. Coventry BS will appoint a valuer who will get in contact with the selling agent or owners to schedule an appointment. Once conducted (assuming no problems) it takes on average a week for the mortgage offer to be issued. Coventry BS will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Chipstead.
How does conveyancing in Chipstead differ for new build properties?
Most buyers of new build or newly converted property in Chipstead come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Chipstead typically purchase the site, 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 used to new build conveyancing in Chipstead or who has acted in the same development.
What tools are available to locate a Chipstead solicitor on the Aldermore conveyancing panel? I am a keen cyclist and am willing to travel upto 10miles to meet the conveyancer.
You can use the search on this website. Please choose the lender and your location and you will see a number of Chipstead conveyancing lawyers locally. We have listed some Chipstead conveyancing firms at the bottom of this page and you can contact them to see if they are on the Aldermore member panel
I am in need of some leasehold conveyancing in Chipstead. Before I get started I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and most are in Chipstead - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I have had difficulty in trying to reach an agreement for a lease extension in Chipstead. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant legislation it is possible to make an application to the LVT to judgment on the price.
An example of a Freehold Enfranchisement case for a Chipstead property is 223 Brighton Road in September 2013. The premium payable for the acquisition freehold of the properties should be £10,934 (Ten thousand,nine hundred and thirty four pounds) This case related to 3 flats. The number of years remaining on the existing lease(s) was 75 years.