Our conveyancer has uncovered a a problem with the lease for the apartment we are buying in Chelsfield. The seller’s lawyers have suggested title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer has advised that he must be satisfied that the mortgage company is happy 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 provisions. 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 conveyancing practitioner will have no choice but to discontinue acting for you.
My husband and I wish to acquire a newly converted apartment in Chelsfield with a residential mortgage from Yorkshire Building Society.We like our Chelsfield conveyancing practitioner but Yorkshire Building Society says her practice is not listed on their approved list of firms. It seems we have little choice but to instruct a Yorkshire Building Society panel lawyer or keep our preferred solicitor and fork out for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Yorkshire Building Society use our lawyer?
No, not really. The loan offered to you is subject to its terms and conditions, a common one being that conveyancers needs to be on the Yorkshire Building Society solicitor panel. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Yorkshire Building Society
I have been told that property searches are a common reason for hinderance in Chelsfield conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Chelsfield.
I used Arc property Solicitors a few years past for my conveyancing in Chelsfield. Now, I need the documents however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Chelsfield of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Chelsfield differ for newly converted properties?
Most buyers of new build residence in Chelsfield contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is ready to move into. This is because new home sellers in Chelsfield typically 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 conveyancing solicitors 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 accustomed to new build conveyancing in Chelsfield or who has acted in the same development.
I have just placed an offer on an apartment in Chelsfield and the broker that we are using recommended his conveyancing practitioner. They quoted £1000 excluding VAT and 3rd party costs. Does this sound like a good deal?
You should not rely on a single quote. You should obtain like-for-like quotes for your conveyancing in Chelsfield. Then choose one that you trust and crucially, is on the approved panel of the mortgage company that you are sourcing your mortgage from.