My lawyer has discovered a a problem with the lease for the apartment we are buying in Long Hanborough. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancing practitioner has advised that he must ensure that the lender is content 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 lawyer 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 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 property lawyer will have no choice but to discontinue acting for you.
Are the Long Hanborough conveyancing solicitors identified as being on the TSB conveyancing panel, together with their details provided by TSB?
Long Hanborough conveyancing firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
How do I discover of the solicitor handling my conveyancing in Long Hanborough is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Alliance & Leicester thus spending £187.00 plus VAT in additional conveyancing fees.
You should take advantage of the find a lender approved solicitor tool on this site. Pick the mortgage company and type ‘Long Hanborough’ or your location and you will see numerous solicitors located in Long Hanborough or by proximity to you.
I am the only recipient of my late father’s will with all property in now in my sole name, including the my former home in Long Hanborough. The Long Hanborough property was put into my name in October. I plan to dispose of the house. I do know about the CML 6 month 'rule', which means that my property ownership will be regarded the same way as if I'd bought the house in October. Will no one buy the property for half a year?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. Most banks would take a pragmatic view as this clause is primarily there to identify subsales or the wholesaling and assigning of property.
We previously selected solicitors located in Long Hanborough on the Skipton solicitor panel. They have just billed me a further charge for dealing with the Skipton mortgage. Is this an additional conveyancing fee set by Skipton?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your solicitor may charge a fee for this. The charge is not set by Skipton but by your Long Hanborough conveyancing practitioner. Plenty of firms on the Skipton panel will charge an ‘acting for lender’ fee but many practices incorporate it on their overall fee.
I recently had an offer agreed on an apartment in Long Hanborough. My mortgage broker pressured me to appoint their property lawyer. I paid an advanced payment of £225. Soon after, the conveyancer contacted me sheepishly admitting that they were not on the Lloyds conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Lloyds panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
About to purchase a new build flat in Long Hanborough. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Long Hanborough
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan.
Are Long Hanborough conveyancing solicitors under an obligation to the Law Society to supply transparent conveyancing costs?
Contained within the Solicitors Code of Conduct are prescriptive rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be regarded as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, however, represent the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Long Hanborough or across England and Wales.