My solicitor has discovered a defect with the lease for the property we are buying in Poplar. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will cover the costs. Our property lawyer says that he must be satisfied that the lender is content with this solution. Who is the client here, us or the lender?
Regardless of the fact that you have a mortgage offer from the bank 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 conditions. You and the lender are the client. These conveyancing instructions must be adhered to.
We are planning on selling our house in Poplar and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A high street Poplar lawyer would know that there is no such problem. It does beg the question why the buyers are using a national conveyancing practice rather than a conveyancing solicitor in Poplar. Having lived in Poplar for 4 years we know of no issue. Do we get in touch with our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing firm currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
It has been 3 months following my purchase conveyancing in Poplar took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Poplar differ for new build properties?
Most buyers of new build residence in Poplar come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is finished. This is because house builders in Poplar typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Poplar or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a simple, no chain conveyancing. Poplar is the location of the property. Can you offer any guidance?
Flying freeholds in Poplar are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Poplar you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Poplar may decide 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.
What makes your site different to other online quote calculators when it comes to conveyancing in Poplar?
At this site receive a conveyancing quote via a Solicitor or Licensed Conveyancer that appreciates the issues for your conveyancing in Poplar. Unlike many estate agents and many comparison sites we do not operate commission deals with solicitors. Many agents and online brokers 'recommend' the firm that pays the most commission, as opposed to the best value conveyancing in Poplar