Our conveyancer has identified a a legal deficiency with the lease for the property we are purchasing in Holly Village. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our property lawyer has advised that he must check that the mortgage company is content with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions. 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 conveyancer will have no choice but to discontinue acting for you.
In what way does my ID and proof of funds have anything to do with my conveyancing in Holly Village? Is this really warranted?
Holly Village conveyancing solicitors and indeed property lawyers throughout the UK have a duty under money laundering regulations to verify the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified identification; proof of ID (usually a Passport or Driving Licence) and evidence of address (usually a Utility Bill less than 3 months old).
Confirmation of the origin of funds is also necessary in compliance with the money laundering statutes as lawyers are mandated to ensure that the funds you are using to acquire a property (whether it be the deposit for exchange or the full purchase price where you are a cash purchaser) has come from legitimate source (such as employment savings) rather than the proceeds of illegitimate activity.
My Solicitor in Holly Village is not on the Coventry Building Society Approved Panel. Is it possible for me to continue with my family solicitor even though they are excluded from the Coventry Building Society list of approved lawyers?
Your options are as follows:
- Complete the purchase with your existing Holly Village lawyers but Coventry Building Society will need to use a lawyer on their list of acceptable firms. This will result in additional total legal charges as well as result in delays.
- Get a new practitioner to to deal with the conveyancing, obviously checking they are on the Coventry Building Society panel
We are purchasing a house and the lawyer has referenced Chancel Repair to which the house may be liable given it’s proximity to the area of such a church. She has suggested insurance. Is this really appropriate for conveyancing in Holly Village
Unless a prior purchase of the house took place after 12 October 2013 you may take it that solicitors carrying out conveyancing in Holly Village to remain encouraging a chancel search and or chancel repair liability policy.
Are there any apps to help search for a Holly Village solicitor on the National Westminster Bank conveyancing panel? I have a car and am willing to travel upto 10kilometers to meet the solicitor.
Feel free to make use of the tool on this website. Please pick a lender and your location and you will see a number of Holly Village conveyancing lawyers locally. We have detailed some Holly Village conveyancing firms at the bottom of this page and you can ring them to see whether they are on the National Westminster Bank member panel
I am hoping to put an offer on a small detached house that appears to be perfect, at a reasonable price which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Holly Village. Conveyancing advisers have are soon to be appointed. Will they explain the issues?
Most houses in Holly Village are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Holly Village in which case you should be looking for a Holly Village conveyancing solicitor and be sure that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your lawyer should appraise you on the various issues.
I am the registered owner of a two-bedroom flat in Holly Village. In the absence of agreement between myself and the freeholder, can the Leasehold valuation Tribunal determine the sum due for the purchase of the freehold?
You certainly can. We are happy to put you in touch with a Holly Village conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Holly Village flat is Flats 12A & 19, Evelyn Mansions Carlisle Place in June 2009. The Tribunal held that the price to be paid for the new lease of Flat 12A is £168,824, For the other flat the price was set at £169,110 This case related to 2 flats. The unexpired lease term was 56 years.