Me and my fiancee are buying our first property. Our solicitor has messagedto ask if we want to purchase additional conveyancing searches. Frankly we in the dark as to what's relevant for conveyancing in Fareham
The extent of Fareham conveyancing searches should be dictated entirely on the property, the location, the probability of any of these risks, your knowledge of the area and risks, your general attitude to risk. What is important is that you adequately understand what information each search could supply. You may then decide if you personally think you need that information. Where you are in doubt, ask your conveyancer to explain.
Should my conveyancer be asking questions regarding flooding as part of the conveyancing in Fareham.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Fareham. There are those who buy a property in Fareham, fully aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, however there are a number of searches that may be undertaken by the buyer or by their solicitors which should figure out the risks in Fareham. The standard completed inquiry forms supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to find out whether the property has suffered from flooding. In the event that flooding has previously occurred which is not revealed by the seller, then a buyer may issue a legal claim for losses resulting from an misleading response. A buyer’s solicitors should also carry out an enviro report. This will disclose whether there is a recorded flood risk. If so, additional investigations should be initiated.
I opted to have a survey done on a house in Fareham in advance of retaining lawyers. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies tend refuse to issue a mortgage on this type of premises.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. Should you wish to call us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Fareham. Conveyancing will be smoother if you use a solicitor in Fareham especially if they are accustomed to such properties in Fareham.
How difficult is it to switch firm as I need to select a firm on the Yorkshire Building Society conveyancing list. I had appointed a high street conveyancing solicitor in Fareham round the corner but the firm is not accepted by Yorkshire Building Society
It would be our pleasure to assist you select a conveyancing solicitor in Fareham on the Yorkshire Building Society panel. Please note that the solicitors that we work with do not pay us fee if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in Fareham. In utilising the find a conveyancing solicitor tool on this website, you can contrast fees for conveyancing solicitors in Fareham and beyond.
We are 17 days into a residential purchase having been recommend to solicitors by the estate agent to carry out the conveyancing in Fareham. I am not happy. Could you help me find new solicitors?
A conveyancer would need to be very bad in order to consider changing them. Has the loan offer been issued? If so you must advise them of the replacement lawyer and ensure the mortgage documents are issued to the new lawyers. Your conveyancer needs to be on the mortgage company approved list to avoid supplemental costs and complications. That should be your first question of the new lawyers. The search tool can assist you in finding a lender approved solicitor for your home move in Fareham
Our conveyancer in Fareham has uncovered a a problem with the lease for the flat we are purchasing in Fareham. The seller’s lawyers have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that as he is on the mortgage company conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the lender 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 lawyer will have no choice but to discontinue acting for you.