My lawyer has identified a a legal deficiency with the lease for the property we are buying in Arley. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer has advised that he must ensure that the bank is happy with this solution. Who is the client here, us or 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 solicitor 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 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.
There are plenty of conveyancing solicitors in Arley but how do I know who's good?
It would be unwise to be seduced by the lowest Arley conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
How can we know in advance if a Arley conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Arley obtaining recommendations is a sensible starting point. 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 advise that you speak with the lawyer conducting your conveyancing.
We have a mortgage agreed in principle with Co-operative. Arley conveyancing solicitors are instructed. What is the average time that one could expect to receive a mortgage offer from Co-operative?
Some lenders take longer than others. Have Co-operative done the valuation? Have you advised Co-operative as to your lawyers' details and checked that your lawyers are on the Co-operative conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
What will a local search reveal regarding the house my wife and I buying in Arley?
Arley conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations for example PSG The local search is essential in every Arley conveyancing purchase; that is if you don’t want any nasty surprises after you move into your property. The search will reveal information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
Due to the input of my in-laws I had a survey completed on a house in Arley ahead of instructing solicitors. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some mortgage companies tend not give a loan on this type of property.
It depends who your proposed lender is. HSBC has different requirements for example to Nationwide. If you e-mail us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Arley. Conveyancing will be smoother if you use a solicitor in Arley especially if they are familiar with such properties in Arley.
Do I need to be wary by estate agents that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a High Street Arley conveyancing practice?
As with lots of professional services, often suggestions from relatives can be most helpful. But there are lots of parties with a vested interest in a conveyancing deal; estate agents, financial adviser and banks may recommend lawyers to choose. On occasion the lawyers might be known to one of the organisations as experts in their field, but sometimes there exists a commercial relationship behind the endorsement. You are free to select your own lawyer. You need to be aware that many mortgage providers specify a panel list of law firms you must use for the mortgage related work in your transaction.
Am I best advised to go with a Arley conveyancing practitioner based in the vicinity that I am hoping to buy? I have an old university friend who can handle the legal work however his firm is located 200kilometers drive away.
The primary upside of using a high street Arley conveyancing firm is that you can pop in to sign paperwork, hand in your identification documents and pester them if necessary. They will also have local intelligence which is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and in the main were impressed that must surpass using an unknown Arley conveyancing lawyer solely due to them being based in the area.