My conveyancer has uncovered a defect with the lease for the property we are buying in Dockland Settlement. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancing practitioner has advised that he must ensure 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 lender are the client. Your lawyer 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.
Can you explain why leasehold purchase conveyancing in Dockland Settlement costs more?
In short, leasehold conveyancing in Dockland Settlement and London usually necessitates extra work compared to freehold conveyancing. This includes lease investigation, corresponding with the landlord about serving appropriate notices, securing current service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
What is the difference between a licensed conveyancer and conveyancing solicitor in Dockland Settlement
There are many recorded licenced Conveyancers in Dockland Settlement and Solicitor partnerships in Dockland Settlement offering conveyancing It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. They may both also deal with other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I'm in the throws of viewing apartments in Dockland Settlement and I am about to put in an offer. Should I already have a conveyancing practitioner in place at this point? I am planning to take a home loan with Santander.
It would be sensible to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. Given that you are getting a mortgage with Santander, ask your prospective lawyers if they are on the Santander conveyancing panel otherwise they can't do the mortgage legal work.
I am due to exchange contracts on my apartment. I had a double glazing fitted in June 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, TSB are being problematic. The Dockland Settlement solicitor who is on the TSB conveyancing panel is happy to accept ‘lack of building regulation’ insurance but TSB are requiring a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
We are purchasing a property and the lawyer has raised the issue of Chancel Repair for which the property could be obligated to contribute to given it’s proximity to the area of such a church. She has suggested insurance. Is this really warranted for conveyancing in Dockland Settlement
Unless a prior acquisition of the property took place post 12 October 2013 you could take it that lawyers conducting conveyancing in Dockland Settlement to continue to recommend a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Dockland Settlement?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Dockland Settlement. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
My husband and I are buying a first floor flat in Dockland Settlement. When we first instructed conveyancer, they told us that they were on all mainstream lender panels. Our mortgage broker called yesterday to advise that they are not on the Barclays approved list. Were it to be true, what should we do? Do we just find a new solicitor that is on their panel or do we cover the costs for separate representation, with Barclays appointing their own approved lawyer.
Where you are buying a property needing a mortgage it is usual for the purchaser’s lawyers to also act for the purchaser's lender. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's conveyancing panel. An application has to be made by the conveyancer to the lender to become a member of the lender's panel and there are increasingly strict criteria which the conveyancer has to fulfill. Some banks now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should call Barclays to discover if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on Barclays's conveyancing panel and you may continue to use your own Dockland Settlement solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.