My solicitor has uncovered a a problem with the lease for the property we are buying in Arkley. The other side have suggested title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer says that he must be satisfied that the lender is content with this solution. Are we the client or is the mortgage company ?

The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your property 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 bank 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 solicitor will have no choice but to discontinue acting for you.

Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Arkley?

There are many registered licenced Conveyancers in Arkley and Solicitor firms in Arkley who provide Conveyancing services We would stress that the two are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. The two can deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.

This question may be naive but I am unexperienced as a first time purchaser of a ground floor flat in Arkley. Do I receive the keys to the house on the completion date from my conveyancer? If this is the case, I will appoint a local conveyancing solicitor in Arkley?

There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the vendor’s solicitors, and shortly after the monies have arrived, you will be called to receive the keys from the selling Agents and move into your new home. This tends to happen early afternoon.

I have finally had an offer on a maisonette in Arkley agreed to, the sellers do however have a connected purchase. The sellers have placed an offer on somewhere, but it’s not yet tied up, and have viewings of other apartments booked. I have instructed a bricks and mortar conveyancing solicitor in Arkley. What do I do now? At what stage do I apply for the mortgage with UBS?

It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of £1k, then valuation, Arkley conveyancing search fees, etc). First, you should check that your conveyancing practitioner is on the UBS conveyancing panel. Concerning the subsequent phase this very much dictated by the circumstances of your transaction, desire for this property and on the state of the market. During a buoyant market many buyers will apply for the mortgage with UBS and pay for the valuation and only if it comes back ok would they ask their solicitor to press on with the conveyancing in Arkley.

Should my conveyancer be raising enquiries about flooding during the conveyancing in Arkley.

Flooding is a growing risk for lawyers dealing with homes in Arkley. Plenty of people will acquire a property in Arkley, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Lawyers are not qualified to offer advice on flood risk, however there are a number of searches that may be carried out by the buyer or by their conveyancers which can give them a better understanding of the risks in Arkley. The standard completed inquiry forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the seller to determine if the property has ever been flooded. In the event that the residence has been flooded in past and is not revealed by the owner, then a purchaser could bring a compensation claim stemming from an incorrect response. A buyer’s solicitors may also conduct an environmental search. This should higlight if there is a recorded flood risk. If so, more detailed investigations should be initiated.

I'm purchasing my first flat in Arkley with a mortgage from Bank of Scotland. The builders refused to move on the price so I negotiated £7000 of additionals instead. The house builders rep suggested that I not to tell my conveyancer about this side-deal as it would put at risk my mortgage with the lender. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I've found a house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Arkley. Conveyancing solicitors have not yet been appointed. Will they explain the issues?

The majority of houses in Arkley are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Arkley so you should seriously consider looking for a Arkley conveyancing solicitor and check that they have experience in dealing with leasehold houses. First 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 will likely included provisions such as obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your conveyancer will report to you on the legal implications.

We have reached the end of our tether in trying to purchase the freehold in Arkley. Can this matter be resolved via the Leasehold Valuation Tribunal?

Absolutely. We can put you in touch with a Arkley conveyancing firm who can help.

An example of a Lease Extension case for a Arkley flat is Ground Floor Maisonette 17 Milton Road in January 2014. The Tribunal determined the premium payable by the Applicant to the should be £13,299 This case affected 1 flat. The unexpired term as at the valuation date was 71.73 years.