Our solicitor has uncovered a a problem with the lease for the property we are purchasing in Wolston. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will cover the costs. Our property lawyer has advised that he must check that the bank is willing to move forward with this solution. Who is the client here, us or the bank?

Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. These conveyancing instructions have to be complied with.

At what point can the exchange of contracts take place for sale conveyancing in Wolston and am I required to be at the conveyancers branch?

If you are local to one of the conveyancing solicitors in Wolston you are invited in to sign documents. That being said, the lender approved solicitors we recommend supply a national conveyancing service and give as equally comprehensive and professional a job for you when communicating with you by post or email. The signing of the purchase agreement is not the critical part. Signing on the dotted line is necessary for the solicitor to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Wolston)to be in the office at the appropriate time.

3 months have elapsed following my purchase conveyancing in Wolston took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

What makes your site different to other internet conveyancing solicitors for conveyancing in Wolston?

At this site obtain a fixed fee quote from a Solicitor or Licensed Conveyancer that appreciates the nuances for your conveyancing in Wolston. As opposed to estate agents and many comparison sites we do not operate kick-back arrangements with solicitors. Some agents and online brokers 'recommend' the firm that pays the most kickback, rather than the best value conveyancing in Wolston

I am tempted by the attractive purchase price for a couple of apartments in Wolston which have in the region of 50 years left on the lease term. Should I regard a short lease as a deal breaker?

A lease is a right to use the premises for a period of time. As a lease shortens the marketability of the lease reduces and it becomes more expensive to extend the lease. For this reason it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage lenders less inclined to grant a loan on properties of this type. Lease enfranchisement can be a difficult process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this arena.

Leasehold Conveyancing in Wolston - Examples of Questions you should ask before Purchasing

How many of the leaseholders are in arrears for their service charge payments? How is the lease structured? Best to be warned if a new roof is being put on or some other major work is coming up that will be shared by the tenants and could well materially increase the the maintenance charges or necessitate a one time invoice.