Our conveyancer has discovered a defect with the lease for the property we are purchasing in Catford. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor has advised that he must check that the lender 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 potential for a conflict of interest, you and the bank are the client. Your conveyancing practitioner 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 bank 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 conveyancer will have no choice but to discontinue acting for you.
In scouring mumsnet.com for a recommended lawyer in Catford, many post that I should look for a CQS assured lawyer. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard 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 * compliance with best practice conveyancing processes via the scheme protocol the standard includes many companies who perform conveyancing in Catford.
My uncle informed me that in purchasing a property in Catford there could be various restrictions prohibiting external alterations to a property. Is this right?
There are a number of properties in Catford which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Catford should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
is it true that all Catford conveyancing solicitors on the Skipton conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Skipton conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. Many banks do list licenced conveyancers on their panel and in such a situation the practice would be governed by the CLC.
Completion of my purchase has taken place for my property in Catford. Conveyancing was of an acceptable standard but I would like to complain about the lender. How do I make a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
How does conveyancing in Catford differ for newly converted properties?
Most buyers of new build property in Catford contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is finished. This is because developers in Catford usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Catford or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a simple, no chain conveyancing. Catford is the location of the property. Is there any guidance you can give?
Flying freeholds in Catford 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 Catford you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Catford 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.
I have been sourcing a conveyancing lawyer in Catford for my purchase. Is there any facility to review a firm’s record with the legal regulator?
Members of the public may find published Solicitor Regulator Association (SRA) determinations stemming from inquisitions started on or after 1 January 2008. Go to Check a solicitor's record. For information about the period before 1 January 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, dial +44 (0)121 329 6800. The regulator sometimes monitor call for training requirements.