My conveyancer has discovered a a problem with the lease for the property we are buying in Hersham. The other side have put forward defective title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancer says that he must check that the mortgage company is willing to move forward with this solution. Are we the client or is the lender?
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 lawyer 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 solicitor will have no choice but to discontinue acting for you.
Is it the case that all Hersham conveyancing solicitors on the TSB conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the TSB approved list of solicitors they would need to be overseen by the SRA. The majority of mortgage companies do list licenced conveyancers on their panel and in such a situation the practice would be regulated by the CLC.
We expect to receive a AIP from Bank of Ireland this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Bank of Ireland recommend any Hersham solicitors on the Bank of Ireland conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Hersham solicitors independently although you'll need to choose one on the Bank of Ireland conveyancing panel. The solicitor represents both you and Bank of Ireland through the process.
My sealed bid on a property in Hersham has been accepted, the vendors do nevertheless have a connected purchase. The vendors have offered on on an apartment, but it’s not been accepted yet, and are looking at other flats booked. I have chosen a bricks and mortar conveyancing solicitor in Hersham. What should be my next step? At what stage should I apply for the mortgage with Kent Reliance?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur costs too early (home loan application is in the region of £1k, then valuation, Hersham conveyancing search costs, etc). The first course of action is to check that your property lawyer is on the Kent Reliance approved list. Regarding the next stages this very much depends on the specifics of your transaction, motivation for the property and on the state of the market. During a rising market some buyers would apply for the mortgage with Kent Reliance and pay for the valuation and only if it was satisfactory would they pay their conveyancing practitioner to move forward with searches.
The deeds to my house can not be found. The solicitors who conducted the conveyancing in Hersham 4 years ago have long since closed. What are my options?
You no longer need to have the physical deeds to prove you are the owner of your registered land or premises, as the Land Registry hold details of all registered land or property electronically.
I am purchasing a new build house in Hersham with a loan from Bank of Scotland. The developers refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not disclose to my solicitor about the extras as it will put at risk my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a straight forward, chain free conveyancing. Hersham is where the house is located. Can you offer any opinion?
Flying freeholds in Hersham are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hersham you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hersham 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 property.
What does commercial conveyancing in Hersham cover?
Hersham conveyancing for business premises covers a broad array of guidance, offered by regulated solicitors, relating to business property. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.