Our conveyancer has discovered a a legal deficiency with the lease for the apartment we are purchasing in Hersham. The other side have suggested title insurance as a solution. We are content with insurance and will pay for it. Our solicitor says that he must be satisfied that the lender is happy with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook conditions. 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 solicitor will have no choice but to discontinue acting for you.
Please explain the implications if my solicitor is expelled from the UBS Solicitor panel ahead of completing my conveyancing in Hersham?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I have been told that property searches are a common reason for obstruction in Hersham house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Searches are not likely to be the root cause of delay in conveyancing in Hersham.
Due to the encouragement of my in-laws I had a survey completed on a property in Hersham before retaining lawyers. I have been told that there is a flying freehold overhang to the house. The surveyor has said that some lenders may refuse to grant a mortgage on such a premises.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. If you call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Hersham. Conveyancing will be smoother if you use a solicitor in Hersham especially if they are familiar with such properties in Hersham.
Is it possible to swap solicitor as I have to retain a firm on the Coventry Building Society conveyancing list. I hired a family conveyancing solicitor in Hersham five minutes from me but he is not accepted by Coventry Building Society
It would be our pleasure to help you find a conveyancing solicitor in Hersham on the Coventry Building Society panel. Please note that the conveyancers that we on the directory do not pay us fee if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in Hersham. In making use of the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Hersham.
I am looking for a conveyancing solicitor in Hersham for my home move. Is there any facility to see a solicitor's record with the legal regulator?
You may read documented Solicitor Regulator Association (SRA) determinations resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The SRA may recorded call for training reasons.