Our solicitor has identified a defect with the lease for the property we are purchasing in Meir. The seller’s lawyers have suggested title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer says that he must check that the mortgage company is content with this solution. Who is the client here, us or the bank?
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 conveyancer 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 lender 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 conveyancing practitioner will have no choice but to discontinue acting for you.
Is there a reason why leasehold purchase conveyancing in Meir costs more?
Meir leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Meir?
There are many recorded licenced Conveyancers in Meir and Solicitor firms in Meir to choose from We would stress that the two are regulated professionals specialising in the legal aspects of the home buying process. They may both also handle associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
How can we tell if a Meir conveyancing solicitor on the Aldermore panel is any good?
When it comes to conveyancing in Meir getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the solicitor conducting your conveyancing.
I am due to exchange contracts on my house. I had a double glazing fitted in April 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Bank of Ireland are being pedantic. The Meir solicitor who is on the Bank of Ireland conveyancing panel is recommending indemnity insurance as a solution but Bank of Ireland are requiring a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Will our solicitor be raising questions about flooding as part of the conveyancing in Meir.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Meir. There are those who acquire a property in Meir, completely expectant that at some time, it may be flooded. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, but there are a numerous searches that can be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in Meir. The conventional set of information given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the vendor to determine if the property has suffered from flooding. In the event that the residence has been flooded in past and is not revealed by the seller, then a buyer could bring a compensation claim resulting from an inaccurate answer. The buyer’s lawyers may also conduct an environmental report. This will higlight whether there is any known flood risk. If so, further investigations will need to be made.
I am looking into buying my first house which is in Meir and I am already nervous. I couldn't find anything specific about Meir. Conveyancing will be needed in due course but do you know about the Meir area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Meir. In the meantime here are some basic statistics that we found
When it comes to my conveyancing in Meir should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Meir conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.