My lawyer has uncovered a a legal deficiency with the lease for the property we are buying in Berrylands. The other side 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 check that the mortgage company is content with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your property lawyer 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.
What does my ID and proof of funds have anything to do with my conveyancing in Berrylands? Is this really warranted?
In order to comply with Money Laundering Regulations any Berrylands conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account evidencing where you reside.
Under Money Laundering Regulations, conveyancers are duty bound to ascertain not only the identity of conveyancing clients but also the source of monies that they receive in respect of any matter. Refusal to disclose this may result in your lawyer terminating their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your conveyancers will have an obligation to make a disclosure to the appropriate authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.
In researching moneysavingexpert.com for a recommended solicitor in Berrylands, many post that I should instruct a CQS accredited solicitor. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to best practice conveyancing procedures via the scheme protocol the standard covers numerous organisations who execute conveyancing in Berrylands.
Am I better off to choose a Berrylands conveyancing solicitor in close proximity to the house I am hoping to buy? I have an old university friend who can handle the legal work but his firm is located approximately 350miles drive away.
The benefit of a local Berrylands conveyancing firm is that you can attend the office to sign paperwork, hand in your ID and apply pressure on them if necessary. They will also have local knowledge which is a plus. However it's more important to get someone that will do a good and efficient job. If other friends have used your friend and on the whole were impressed that must trump using an unknown Berrylands conveyancing lawyer solely due to them being local.
Back In 2007, I bought a leasehold flat in Berrylands. Conveyancing and Britannia mortgage went though with no issue. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Berrylands who previously acted has now retired. Do I pay?
The first thing you should do is make enquiries of HMLR to make sure that this person is in fact the new freeholder. There is no need to instruct a Berrylands conveyancing lawyer to do this as you can do this on the Land Registry website for a few pound. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I own a ground-floor 1960’s flat in Berrylands. Given that I can not reach agreement with the landlord, can the Leasehold valuation Tribunal determine the premium payable for the purchase of the freehold?
Where there is a missing landlord or if there is disagreement about what the lease extension should cost, under the relevant legislation you can apply to the Leasehold Valuation Tribunal to determine the price payable.
An example of a Lease Extension decision for a Berrylands residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.
What type of premises does your Berrylands conveyancing estimates relate to?
Our conveyancing quotes are only relevant to standard domestic premises in England & Wales. Where you have any different needs for instance industrial or agricultural land or commercial conveyancing in Berrylands do telephone us to discuss your requirements .