I am obtaining a offer of a home loan from Nat West. My intention is to use a Licensed Conveyancer in Wargrave. Does the Nat West Solicitor panel allow for Licensed Conveyancers?
The Nat West conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
My lawyer has uncovered a defect with the lease for the property we are purchasing in Wargrave. The seller’s lawyers have offered title insurance as a solution. We are happy with insurance and will pay for it. Our solicitor says that he must ensure that the mortgage company is willing to move forward with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender 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 conveyancing practitioner will have no choice but to discontinue acting for you.
The Wargrave conveyancing solicitors that I appointed last week on my purchase in Wargrave have without warning shut down. They were on acting for me because I had to have a solicitor on the Co-operative conveyancing panel and my family Wargrave lawyer was not. I cut them a cheque for £250 in advance. What are my options?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Co-operative conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
It has been five months since my purchase conveyancing in Wargrave concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. 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 residence 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.
I need to instruct a conveyancing solicitor for residential conveyancing in Wargrave. I've discover a web site which seems to have the ideal solution If it is possible to get all the legals completed via phone that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Having checked my lease I have discovered that there are only 68 years unexpired on my lease in Wargrave. I now wish to extend my lease but my landlord is missing. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to track down the landlord. In some cases an enquiry agent should be helpful to conduct investigations and to produce a report which can be used as evidence that the freeholder is indeed missing. It is advisable to get professional help from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Wargrave.
Leasehold Conveyancing in Wargrave - Sample of Questions you should consider Prior to Purchasing
-
It would be prudent to investigate if there are any onerous prohibitions in the lease. For example it is very common in Wargrave leases that pets are not allowed in in a block in Wargrave. If you love the apartmentin Wargrave but your cat can’t move with you then you have a very hard determination. Is anyone aware of any major works on the horizon that will likely add a premium to the service costs?