Our lawyer has identified a a legal deficiency with the lease for the property we are purchasing in Waltham Abbey. The other side have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our says that he must check that the lender is content with this solution. Who is the client here, us or the mortgage company ?
Regardless of the fact that you have a mortgage offer from the lender 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 specifications. You and the mortgage company are the client. These conveyancing instructions must be adhered to.
I have been referred to a conveyancing solicitor in Waltham Abbey. I need to find out whether they are on the conveyancing panel. Could you advise?
The first thing to do is e-mail your solicitor and ask them whether they are on the lender panel. Otherwise please call who may be able to assist.
Over the last few months I have been searching for a flat up to £245,000 and found one near me in Waltham Abbey I like with amenity areas and transport links nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in Waltham Abbey in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you need a mortgage the remaining unexpired lease term may be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
I'm remortgaging my primary home to a buy to let loan with and intend to use the remaining equity as a down payment on a second property. The neighborhood we are interested in is Waltham Abbey. Will your solicitors be able to act for both sets of mortgage companies and link together the transactions?
Make use of our comparison tool on this site to be sure that the conveyancers are on the appropriate lender panels. Having checked that they are your solicitor should be able to simultaneously deal with the two conveyancing matters but you should have a chat with you solicitor and communicate your desired outcome and requirements.
My brother has recommend that I instruct his lawyers for conveyancing in Waltham Abbey. Should I find my own conveyancer?
Much as we are happy to recommend a Waltham Abbey conveyancing lawyer the ideal way to select a conveyancing solicitor is to have recommendations from friends or family who have actually previously instructed the firm you're considering.