My lawyer has discovered a a legal deficiency with the lease for the property we are purchasing in Hampden Pk. The seller’s lawyers have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancer has advised that he must ensure that the bank is willing to move forward 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 bank are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company 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.
Is there a reason why leasehold purchase conveyancing in Hampden Pk is more expensive?
In short, leasehold conveyancing in Hampden Pk and elsewhere usually warrants more hours of investigation compared to freehold transactions. This includes checking the lease terms, liaising with the landlord concerning the service of appropriate notices, obtaining up-to-date service charge and management information, obtaining the freeholder’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 entered into.
I used Stirling Law several years ago for my conveyancing in Hampden Pk. I now require my file however the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Hampden Pk of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a straight forward, chain free conveyancing. Hampden Pk is the location of the property. What do you suggest?
Flying freeholds in Hampden Pk are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hampden Pk you would need to get your solicitor to go 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 Hampden Pk may ascertain 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 premises.
We are 17 days into a residential purchase having been referred to conveyancers by the selling agent to perform conveyancing in Hampden Pk. I am not happy. Could you help me find new solicitors?
They would need to be very poor to suggest replacing them. Has the mortgage offer been generated? If so you must advise them of the new solicitor and ensure the loan are re-issued. Your new solicitor ideally needs to be on the lenders approved list to avoid escalating costs and delays. So that should be your first question of the new conveyancers. Our find a solicitor tool can help you find a bank approved conveyancer for your conveyancing in Hampden Pk
Much to my surprise my conveyancer in Hampden Pk is asking me for personal identification documents asserting that this is part of his legal duty as a conveyancer on the bank Solicitor panel. Is this right?
Anti-terror and anti-money-laundering rules require Hampden Pk conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the mortgage company also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the mortgage company's UK Finance Lenders’ Handbook requirements