My conveyancer has discovered a defect with the lease for the flat we are buying in New Cross. The seller’s lawyers have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our property lawyer says that he must ensure that the lender is willing to move forward with this solution. Who is the client here, us or the lender?
Even though you have a mortgage offer from the lender does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the lender are the client. These conveyancing instructions have to be complied with.
After looking at moneysavingexpert.com for a high-quality solicitor in New Cross, most say that I should instruct a CQS kitemarked lawyer. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with prudent and efficient conveyancing processes via the scheme protocol the standard includes many partnerships who perform conveyancing in New Cross.
Will our lawyer be asking questions regarding flooding as part of the conveyancing in New Cross.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in New Cross. Plenty of people will purchase a house in New Cross, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, however there are a various searches that can be undertaken by the purchaser or on a buyer’s behalf which should figure out the risks in New Cross. The conventional set of property information forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the owner to discover if the property has historically flooded. If flooding has previously occurred which is not notified by the vendor, then a buyer could issue a claim for damages as a result of such an inaccurate reply. A purchaser’s conveyancers will also order an enviro search. This will higlight if there is a recorded flood risk. If so, more detailed inquiries should be carried out.
Me and my brother have a terraced Edwardian house in New Cross. Conveyancing lawyer represented me and Birmingham Midshires. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold with the exact same property. Is it worth asking Birmingham Midshires to clarify?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in New Cross and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing solicitor who carried out the work.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a straight forward, no chain conveyancing. New Cross is where the house is located. Is there any advice you can give?
Flying freeholds in New Cross are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside New Cross you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in New Cross may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Is it possible to transfer to a new solicitor as I need to choose a firm on the The Royal Bank of Scotland conveyancing panel. I had appointed a family conveyancing solicitor in New Cross round the corner but the firm is not approved by The Royal Bank of Scotland
It would be our pleasure to assist you select a conveyancing solicitor in New Cross on the The Royal Bank of Scotland panel. Please note that the solicitors that we on the directory do not pay us fee if you instruct them and are under regulation of the Solicitors Regulation Authority who oversee all conveyancing solicitors in New Cross. In making use of search facility on this website, you can compare and instruct different solicitors and conveyancers both nationally and in New Cross.