Just contacted my conveyancing solicitor in Baschurch who acted for me two years ago and wanted a conveyancing estimate based on the same type of house sale & purchase (a leasehold premises and a freehold premises) of similar values with a mortgage from Bank of Scotland. I am now being quoted double. Stick with what I know or do I try and find a cheaper online conveyancer?
The charges are a little high. If you are prepared to invest time comparing charges you may be able to shave off some of the cost by say £125. On the other hand, providing that you were pleased with the conveyancing the firm offered you mightlive to regret opting for an a cheaper conveyancer. Remember to check the firm can represent Bank of Scotland. Do employ our search tool to locate a Baschurch conveyancing firm on the Bank of Scotland approved list of lawyers, which can often include conveyancing solicitors in Baschurch.
My lawyer has uncovered a defect with the lease for the apartment we are purchasing in Baschurch. The seller’s lawyers have offered defective title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancing practitioner has advised that he must ensure that the bank is happy with this solution. Who is the client here, us or the mortgage company ?
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 requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company 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.
I have a decision in principle. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to instruct their panel lawyer as I would prefer to use a Baschurch based conveyancing firm?
You should check but the chances are that give you one of their panel conveyancers should you accept the "fee-free" offer. Call the mortgage company and check if they make available a cash alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor near Baschurch.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Baschurch is the location of the property. What do you suggest?
Flying freeholds in Baschurch are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Baschurch you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Baschurch may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Am I best advised to go with a Baschurch conveyancing solicitor based in the area that I am hoping to buy? We have a good friend who can carry out the conveyancing however they are based 400kilometers drive away.
The primary upside of using a local Baschurch conveyancing firm is that you can visit the firm to execute documents, deliver your ID and pester them where appropriate. Having local Baschurch know how is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and the majority were happy that must surpass using an unfamiliar Baschurch conveyancing solicitor just because they are local.
Last May I purchased a leasehold house in Baschurch. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Baschurch Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing
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Make sure you find out if the the lease includes any onerous restrictions in the lease. For example plenty of leases prohibit pets being allowed in in a block in Baschurch. If you love the propertyin Baschurch yet your dog can’t live with you then you have a very hard determination. This question is helpful as a) areas may result in problems in the building as the communal areas may begin to deteriorate if repairs are not paid for b) if the tenants have a dispute with the running of the building you will want to have all the details Please note that where the lease has less than eighty years it will affect the salability of the property. Check with your lender that they are willing to go ahead with the loan given the lease term. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and it is worth finding out how much this would cost. For most Baschurchlease extensions you will need to own the property for two years before you are entitled to exercise a lease extension.