Our lawyer has identified a a problem with the lease for the property we are purchasing in The Hale. The other side have offered title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer has advised that he must ensure that the lender is happy with this solution. Who is the client here, us or the lender?
Even though you have a mortgage offer from the bank 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 conditions. You and the bank are the client. These conveyancing instructions have to be complied with.
Can you explain why leasehold purchase conveyancing in The Hale is more expensive?
In short, leasehold conveyancing in The Hale and elsewhere usually involve extra hours of investigation compared to freehold transactions. This includes reviewing the lease, liaising with the landlord about serving applicable notices, procuring up-to-date service charge and management information, securing the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
Me and my brother own a renovated Edwardian property in The Hale. Conveyancing practitioner acted for me and Lloyds TSB Bank. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold under the exact same property. I thought I was buying a freehold how can I check?
You need to review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in The Hale and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with the conveyancing solicitor who carried out the work.
Hoping to buy a property located in The Hale and I am already nervous. I couldn't find anything specific about The Hale. Conveyancing will be needed in due course but do you know about the The Hale area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at The Hale. In the meantime here are some basic statistics that we found
As co-executor for the will of my grandmother I am selling a house in Neath but reside in The Hale. My solicitor (based 200 kilometers awayneeds me to execute a statutory declaration prior to completion. Can you recommend a conveyancing lawyer in The Hale who can attest and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will do regardless of whether they are The Hale based