Our conveyancer has identified a a legal deficiency with the lease for the apartment we are purchasing in Horwich. The other side have offered defective title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must ensure that the lender is content with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your solicitor 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 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 property lawyer will have no choice but to discontinue acting for you.
I own a freehold property in Horwich but nevertheless pay rent, why is this and what is this?
It is rare for properties in Horwich and has limited impact for conveyancing in Horwich but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
My bank has suggested solicitors on their panel based in Horwich but I would rather instruct a conveyancing lawyer in Horwich round the corner to me. Can you assist?
Far from all Horwich conveyancing practices are listed all lender’s conveyancing panel. Use the above find an approved solicitor tool to find a Horwich conveyancing conveyancer on the on the bank panel.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Horwich?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Horwich. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Am I better off to choose a Horwich conveyancing solicitor based in the location that I am buying? I have an old university friend who can conduct the legal work however they are based 300kilometers drive away.
The benefit of a high street Horwich conveyancing practice is that you can drop in to execute paperwork, deliver your identification documents and pester them if necessary. Having local Horwich know how is a bonus. That being said it's more important to get someone that will do a good and efficient job. If other friends have used your friend and in the main were content that should surpass using an unfamiliar Horwich conveyancing lawyer just because they are Horwich based.
How do I search for a Horwich conveyancing solicitor on the bank conveyancing panel? I have a car and am prepared to travel up to 20miles to attend the conveyancer.
You can use the find a conveyancing panel search on this website. Please choose the lender and your location, in this case Horwich and you will see a number of lawyer located nearest Horwich. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the lender solicitor panel.