Our conveyancer has uncovered a defect with the lease for the property we are purchasing in Dunholme. The seller’s lawyers have offered defective title insurance as a workaround. We are happy with insurance and will pay for it. Our has advised that he must check that the mortgage company is content with this solution. Are we the client or is the lender?

Notwithstanding that you have a mortgage offer from the mortgage company 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 lender are the client. The appropriate lender conditions have to be complied with.

I own a freehold house in Dunholme but nevertheless charged rent, why is this and what is this?

It’s unusual for properties in Dunholme and has limited impact for conveyancing in Dunholme but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.

Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.

Will our solicitor be raising enquiries about flooding as part of the conveyancing in Dunholme.

The risk of flooding is if increasing concern for lawyers dealing with homes in Dunholme. There are those who purchase a property in Dunholme, fully aware that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.

Conveyancers are not qualified to give advice on flood risk, but there are a numerous searches that can be initiated by the buyer or by their lawyers which should give them a better understanding of the risks in Dunholme. The conventional set of property information forms sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the vendor to discover whether the property has suffered from flooding. If the residence has been flooded in past which is not revealed by the owner, then a purchaser could bring a legal claim for losses as a result of such an inaccurate reply. A buyer’s lawyers will also commission an enviro report. This will higlight if there is a recorded flood risk. If so, more detailed inquiries will need to be conducted.

The estate agent has sent us the confirmation of our purchase of a new build flat in Dunholme. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.

Here are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Dunholme

The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?

I am hoping to sign contracts shortly on a basement flat in Dunholme. Conveyancing lawyers have said that they report fully on Monday. What should I be looking out for?

The report on title for your leasehold conveyancing in Dunholme should include some of the following:

The physical ownership of the premises. This might be the apartment itself but may incorporate a loft or basement if appropriate. Whether the lease restricts you from subletting the flat, or having a home office for business The landlord’s rights to access the property. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. You should have a good understanding of the building insurance provisions You should be informed what is to be regarded as a Nuisance in the lease

I own a 1st floor flat in Dunholme, conveyancing was carried out in 1995. How much will my lease extension cost? Corresponding properties in Dunholme with a long lease are worth £165,000. The ground rent is £45 yearly. The lease expires on 21st October 50

With just 50 years remaining on your lease we estimate the price of your lease extension to range between £36,100 and £41,800 plus costs.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.