Our solicitor has uncovered a a problem with the lease for the flat we are buying in Great Missenden. The other side have offered title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor has advised that he must check that the mortgage company 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 mortgage company are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications. 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 property lawyer will have no choice but to discontinue acting for you.
We're in Great Missenden, First time buyers buying with a mortgage (lender is Co-operative , and our lawyer is on the Co-operative conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Co-operative conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I have been on the look out for a ground for flat up to £245,000 and identified one close by in Great Missenden I like with amenity areas and railway links nearby, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Great Missenden in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan the shortness of the lease will likely be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
Am I right to be wary by 3rd parties that I am dealing with are encouraging me to use an online conveyancing firm as opposed to a local Great Missenden conveyancing company?
As with many professional services, often referrals from connections can be worth their weight in gold. But there are numerous people with a keen interest in a conveyancing matter; estate agents, financial adviser and lenders might all put forward conveyancers to choose. Sometimes these solicitors might be known to one of the organisations as experts in their field, but sometimes there exists a commercial relationship behind the recommendation. You have the discretion to appoint your own conveyancer. You need to be aware that some mortgage providers specify a panel list of lawyers you have to use for the mortgage related work in your conveyancing.
I need to find a conveyancing solicitor for my conveyancing in Great Missenden. I've chance upon a web site which looks to be the ideal answer If it is possible to get all this stuff completed via web that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Me and my partner are looking at buying our first property in Great Missenden. Is it possible for you to recommend a trustworthy Great Missenden solicitor that can represent us as well as act for TSB?
The purpose of this site is limited to being a directory service for conveyancing practitioners who want to be listed as being on the approved conveyancing panel for TSB in certain areas for instance Great Missenden . We dont recommend any specific solicitor.