I have just been advised by my lender that my Finedon solicitor is not on the lender Solicitor panel. How can I be certain whether this is indeed the case?
The best course of action for you to take is to call your Finedon conveyancer. It is reasonable to expect your lawyer to notify you of the situation. Where they are not on the panel they may be able to suggest a Finedon conveyancing firm that is on the conveyancing panel for your bank.
Our lawyer has discovered a a legal deficiency with the lease for the flat we are buying in Finedon. The other side have offered defective title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancer has advised that he must be satisfied that the lender is content with this solution. Are we the client or is the mortgage company ?
Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the bank are the client. These conveyancing instructions have to be complied with.
I purchased a freehold premises in Finedon but nevertheless pay rent, why is this and what is this?
It is rare for properties in Finedon and has limited impact for conveyancing in Finedon 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 date back many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Should our lawyer be asking questions regarding flooding as part of the conveyancing in Finedon.
Flooding is a growing risk for conveyancers conducting conveyancing in Finedon. Some people will buy a house in Finedon, completely expectant that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, however there are a number of searches that may be initiated by the purchaser or on a buyer’s behalf which should figure out the risks in Finedon. The standard completed inquiry forms supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the owner to determine whether the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the owner, then a buyer could issue a claim for damages as a result of such an incorrect reply. The buyer’s conveyancers will also order an environmental search. This should reveal if there is any known flood risk. If so, more detailed investigations should be made.
About to purchase a new build apartment in Finedon. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Finedon
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Please confirm the Lease plans are surveyor prepared. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I am thinking of appointing a conveyancing lawyer in Finedon for my house move. Is there any facility to see a firm’s complaints history with the legal regulator?
Members of the public may read published Solicitor Regulator Association (SRA) determinations arising from inquisitions commenced on or after 1 January 2008. Go to Check a solicitor's record. For records 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, call +44 (0)121 329 6800. The SRA could monitor telephone calls for training purposes.