My solicitor has identified a defect with the lease for the property we are purchasing in Andover. The seller’s lawyers have offered title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer says that he must be satisfied 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 risk of a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions. 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 conveyancer will have no choice but to discontinue acting for you.
I am the registered owner of a freehold house in Andover yet charged rent, why is this and what is this?
It’s unusual for properties in Andover and has limited impact for conveyancing in Andover 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 new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
This question may be naive but I am unseasoned as a 1st time purchaser of a ground floor flat in Andover. Do I collect the keys to the premises on completion from my solicitor? If so, I will instruct a High Street conveyancing solicitor in Andover?
On the day of completion you do not need to go to the conveyancers office in Andover. Your solicitors will electronically transfer the completion advance to the owner’s conveyancers, and shortly after the monies have arrived, you will be able to collect the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.
I am being advised by my lawyer that defective lease insurance is required on my purchase. What is the level of cover for Andover conveyancing?
The right level of defective lease indemnity insurance depends on who your lender is. It would differ for example between Barclays and The Mortgage Works. Conveyancing solicitors as opposed to members of the public take out such policies.
How can we know in advance if a Andover conveyancing solicitor on the UBS panel is any good?
When it comes to conveyancing in Andover seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer handling your transaction.
I am buying a new build apartment in Andover. 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.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Andover
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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.
I have been sourcing a conveyancing practitioner in Andover for my house move. Is it possible to review a firm’s complaints history with the profession’s regulator?
Anyone can search for documented Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Visit Check a solicitor's record. For details Pre 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The regulator sometimes recorded call for training reasons.
We are contemplating instructing an online conveyancer rather than a Andover conveyancing practice. Should I ‘stay local’?
Advantages do exist in being able to pop in to a local Andover conveyancing solicitor such as
- signing papers same day
- having one on one explanations of things you don't understand
- the ability to raise concerns if things are not going as expected
When comparing quotes, look out for hidden extras. Most decent Andover high street solicitors give an all-inclusive price. Many online companies seem to offer low cost prices, yet have hidden 'extras' in the in the terms and conditions.