Our conveyancer has uncovered a a legal deficiency with the lease for the flat we are purchasing in East Beckton. The seller’s lawyers have offered defective title insurance as a solution. We are content with insurance and will pay for it. Our property lawyer says that he must check that the mortgage company is happy with this solution. Who is the client here, us or the bank?
Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. The appropriate lender requirements have to be complied with.
I own a freehold premises in East Beckton yet pay rent, why is this and what is this?
It is rare for properties in East Beckton and has limited impact for conveyancing in East Beckton but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
Me and my partner are purchasing a apartment in East Beckton. I might seem paranoid but how we can trust a lawyer? At some point we will need to put our life savings into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am helping my step-mother sell her house in East Beckton. Does the conveyancing solicitor order the EPC or it is for the seller to see to?
After the abolition of HIPs, energy assessments became a mandatory component of moving property. An energy assessment must be to hand prior to the property being advertised. This is not something that lawyers normally arrange. If you are using a East Beckton conveyancing lawyer they may help arrange energy performance certificates due to their contacts with long established East Beckton energy assessors
I have instructed a East Beckton conveyancer having checked that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your East Beckton postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in East Beckton.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a simple, no chain conveyancing. East Beckton is where the house is located. Is there any advice you can give?
Flying freeholds in East Beckton 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 East Beckton 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 East Beckton 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 property.
My partner has encouraged me to appoint his conveyancers in East Beckton. Should I use them?
No doubt the best way to find a conveyancing lawyer is to seek recommendations from friends or relatives who have used the conveyancer that you are considering.
Do banks and building societies provide you with an approved list of East Beckton solicitors? How do you know who is on the lender conveyancing panel?
East Beckton firms and firms carrying out conveyancing in East Beckton themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the mortgage company directly.