My solicitor has discovered a a problem with the lease for the apartment we are buying in Old Woking. The seller’s lawyers have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer has advised that he must be satisfied that the bank is happy with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your conveyancer 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 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 lawyer will have no choice but to discontinue acting for you.
I have 7378 less than 75 years unexpired on my lease and require a lease extension for my apartment in Old Woking. Conveyancing solicitors on the Accord Mortgages panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 15/1/2025 the requirements read as follows :
Please help - my lawyer advises that flying freehold insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Old Woking?
The right level of flying freehold indemnity insurance should be dictated by who your lender. It would differ for example between Birmingham Midshires and The Mortgage Works. Conveyancing practitioners as opposed to members of the public take out such policies.
Is it the case that all Old Woking conveyancing solicitors on the Santander conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Santander conveyancing panel they would need to be governed by the SRA. Many banks do permit licenced conveyancers on their panel in which case such organisation would be regulated by the CLC.
Can I be sure that the Old Woking conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in Old Woking obtaining 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 which is cheap as chips. We would always advise that you speak with the lawyer handling your transaction.
Will my conveyancer be asking questions regarding flooding as part of the conveyancing in Old Woking.
The risk of flooding is if increasing concern for lawyers dealing with homes in Old Woking. There are those who acquire a property in Old Woking, completely expectant that at some time, it may suffer from flooding. 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 as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, however there are a number of checks that can be undertaken by the buyer or on a buyer’s behalf which will figure out the risks in Old Woking. The conventional set of property information forms supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) includes a usual question of the owner to determine whether the premises has suffered from flooding. In the event that the property has been flooded in past which is not disclosed by the seller, then a buyer may bring a claim for damages as a result of such an misleading answer. A buyer’s conveyancers should also conduct an environmental search. This will reveal if there is any known flood risk. If so, additional investigations should be conducted.
I opted to have a survey done on a property in Old Woking ahead of retaining conveyancers. I have been told that there is a flying freehold element to the house. Our surveyor advised that some lenders tend refuse to grant a loan on a flying freehold property.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Old Woking. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Old Woking to see if the conveyancing costs will increase in light of this.
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At this site secure a fixed fee quote via a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Old Woking. Unlike many estate agents and many comparison sites we do not operate commission deals with solicitors. Some agents and online brokers 'recommend' the firm that pays the most commission, as opposed to the best value conveyancing in Old Woking