Our lawyer has uncovered a defect with the lease for the property we are purchasing in Bookham. The other side have offered title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer says 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 risk of a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions. 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.
We see that you have a post code search directory listing law firms on the Nationwide conveyancing panel. Do companies pay you a commission if I retain them for our own conveyancing in Bookham?
We are a listing service only for law firms wishing to communicate if they are on the Nationwide conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bookham.
What does commercial conveyancing in Bookham cover?
Non domestic conveyancing in Bookham covers a broad array of advice, offered by regulated solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
I am 17 days into a freehold purchase having been recommend to solicitors by the high street agent to do our conveyancing in Bookham. I am am extremely disappointed with the quality of service. Can you you assist me in finding new solicitors?
They would have to be very bad in order to consider diss instructing them. Has the loan offer been issued? If so you will need to inform them of the new solicitor and get the offer are re-issued. The solicitor ideally needs to be on the lenders approved list to avoid escalating fees and frustration. That should be your first question of the new solicitors. The find a solicitor tool should help you find a lender approved solicitor for your conveyancing in Bookham
If all goes to plan we aim to complete the disposal of our £400,000 apartment in Bookham next week. The management company has quoted £372 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Bookham?
Bookham conveyancing on leasehold flats usually involves the purchaser’s conveyancer sending enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries the majority will be content to assist. They are entitled to charge a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee required by the landlord must be sent together with a summary of rights and obligations in respect of administration fees, otherwise the invoice is technically not due. In reality you have no option but to pay whatever is demanded should you wish to sell the property.
Leasehold Conveyancing in Bookham - Sample of Questions you should ask Prior to buying
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On the whole the cost for major works are not included within maintenance charges, although a few managing agents in Bookham obliged leaseholders to contribute towards a sinking fund created for the specific intention of building a fund for larger works. Are any of leasehold owners in dispute over their service charge liability? It would be wise to discover as much as possible concerning the managing agents as they can either make your living at the property much easier or much more difficult. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to practical matters like the upkeep of the common parts. Ask other people what they think of their service. Finally, find out the dates that the maintenance fees are due to the appropriate party and specifically how they are spending that money.
My fiance and I have just had an offer agreed on a property and had an appointment on Monday with HSBC for the mortgage. They have informed me that when it comes to selecting a solicitor that if they are not on their approved list of property lawyers then we will have to pay out an extra fee of £250+. This is is due to the fact that they would then have to select a property lawyer to act on their behalf in addition to the one we choose to act for ourselves and we are liable for their invoice. I have requested HSBC to furnish me with a list so I can obtain quotes only from their approved lawyers but was told that I need to check with each individual conveyancer to see if they are on the panel. Is there a list online?
You can enquire of HSBC what their panel criteria is for a solicitor.Thereafter ask the property lawyer of your choice whether they meet the criteria and have they acted on loans for HSBC in the past. Where the answer to those is yes, then just clarify this with HSBC. Alternatively please use our search facility and we may be able to find you a property lawyer in Bookham on the approved list for HSBC.