Our lawyer has identified a defect with the lease for the apartment we are purchasing in Leegomery. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancer says that he must check that the lender is happy with this solution. Who is the client here, us or 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 lawyer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company 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.

How does conveyancing in Leegomery differ for new build properties?

Most buyers of new build property in Leegomery contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Leegomery typically buy the real estate, 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 property lawyers 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 Leegomery or who has acted in the same development.

I decided to have a survey completed on a property in Leegomery prior to retaining lawyers. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies will not issue a mortgage on this type of house.

It depends who your proposed lender is. Lloyds has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Leegomery. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Leegomery to see if the conveyancing costs will increase in light of this.

Is it best to use a Leegomery conveyancing lawyer based in the location that I am buying? An old friend can carry out the conveyancing but her office is a couple of hundredkilometers away.

The primary upside of using a high street Leegomery conveyancing practice is that you can visit the firm to execute paperwork, present your identification documents and pester them where appropriate. They will also have local knowledge which is a plus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and on the whole were impressed that must surpass using an unfamiliar Leegomery conveyancing lawyer just because they are local.

I've recently bought a leasehold house in Leegomery. Do I have any liability for service charges for periods before my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Leegomery Conveyancing for Leasehold Flats - Sample of Questions you should consider before buying

The majority of Leegomery leasehold properties will incur a service bill for the upkeep of the building set by the landlord. Where you buy the property you will have to meet this charge, usually in instalments accross the year. This may be anything from two or three hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a ground rent for you to pay yearly, ordinarily this is not a significant amount, say about £25-£75 but you should to enquire as occasionally it can be many hundreds of pounds. How many years remain on the lease? How is the lease structured?