Our solicitor has uncovered a defect with the lease for the property we are buying in Bushey. The other side have put forward title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer has advised that he must be satisfied that the lender is content with this solution. Who is the client here, us or the bank?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the lender are the client. These conveyancing instructions have to be complied with.
As someone clueless as to the Bushey conveyancing process what’s your top tip you can give me for the ownership transfer in Bushey
You may not hear this from too many lawyers but conveyancing in Bushey or throughout Hertfordshire is an adversarial experience. In other words, when it comes to conveyancing there is lots of room for conflict between you and others involved in the ownership transfer. E.g., the vendor, property agent and on occasion a bank. Selecting a solicitor for your conveyancing in Bushey an important selection as your conveyancer is your adviser, and is the ONLY party in the process whose interest is to act in your legal interests and to protect you.
On occasion a potential adversary will try and convince you that you should follow their advice. As an example, the estate agent may claim to be helping by suggesting your conveyancer is dragging his heels. Or your mortgage broker may tell you to do take action that is contrary to your solicitors recommendation. You should always trust your lawyer above all other parties in the conveyancing process.
I am considering remortgaging my house in Bushey, does my lawyer need to be on the Kent Reliance Solicitor panel?
In theory, you could use a solicitor that is not on the Kent Reliance conveyancing panel, but Kent Reliance would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
The deeds to my house are lost. The conveyancers who handled the conveyancing in Bushey 5 years ago are no longer around. Will I be able to sell the house?
These day there are copies made of almost everything, and your solicitor will know exactly where to locate all the relevant paperwork so you can purchase or dispose of your house without a hitch. Where duplicates can’t be found, your lawyer can put in place insurance or indemnities protecting you against future claims on the property.
I opted to have a survey done on a property in Bushey in advance of appointing solicitors. I have been informed that there is a flying freehold aspect to the house. The surveyor advised that some mortgage companies tend refuse to grant a loan on a flying freehold house.
It varies from the lender to lender. Lloyds has different requirements from Halifax. Should you wish to call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Bushey. Conveyancing will be smoother if you use a solicitor in Bushey especially if they are acquainted with such properties in Bushey.
Myself and my fiance have just had an offer accepted on a apartment and had meeting on Friday with HSBC for the mortgage. They warned me that when it comes to selecting a lawyer that unless they are on their approved list of solicitors then we will be subject to an a further fee of £200. This is because they will then have to instruct a solicitor to act for them as well as the one we choose to act for ourselves and we will be on the hook for their fees. I have asked HSBC to send me with a list so I can obtain estimates only from their approved lawyers but was told that I need to check with each individual lawyer to see if they are on the panel. Is their an easier way of going about this?
Ask HSBC what their criteria for panel membership is for a solicitor.Thereafter ask the conveyancer of your choice whether they meet the criteria and have they acted on mortgages for HSBC before. Where the answer to those is yes, then just clarify this with HSBC. Another option is to use our search tool and we should be able to locate a property lawyer in Bushey on the approved list for HSBC.