My solicitor has uncovered a a problem with the lease for the flat we are purchasing in Canning Town. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancer has advised that he must check that the mortgage company is happy with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook conditions. 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 conveyancer will have no choice but to discontinue acting for you.
We are selling our house in Canning Town and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. A local conveyancer would know this is not the case. For the life of me I don't know why the buyers are using a factory type conveyancing outfit rather than a conveyancing solicitor in Canning Town. Having lived in Canning Town for 4 years we know that this is a non issue. Should we get in touch with our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Canning Town is the location of the property. Can you shed any light on this issue?
Flying freeholds in Canning Town are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Canning Town you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Canning Town may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I am selling my property. My previous solicitors closed down. It would be helpful to have a recommendation of a conveyancing firm. Im based in Canning Town if that affects matters.
Do use our search tool to help you choose a solicitor for your conveyancing in Canning Town. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.
I've found a house that appears to meet my requirements, at a reasonable price which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Canning Town. Conveyancing advisers have not yet been instructed. Will they explain the issues?
Most houses in Canning Town are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Canning Town in which case you should be looking for a Canning Town conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to conduct changes to the property. You may also be required to pay a contribution towards the maintenance of the communal areas where the property is located on an estate. Your solicitor will report to you on the legal implications.
Having spent years of dialogue we simply can't agree with our landlord on how much the lease extension should cost for our flat in Canning Town. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most certainly. We can put you in touch with a Canning Town conveyancing firm who can help.
An example of a Lease Extension case for a Canning Town residence is 46 Credon Road in January 2014. On 11 September 2013 Deputy District Judge Price sitting at the Bow County Court made a vesting order that the freeholder surrender his lease and be granted a new lease of the Premises on such terms as may be determined by the First Tier Tribunal (Property Chamber).The appropriate sum as concluded by the Tribunal was £7225 This case related to 1 flat. The unexpired residue of the current lease was 69.77 years.