Our conveyancer has discovered a a problem with the lease for the property we are buying in Raynes Park. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer says that he must check that the bank is happy with this solution. Are we the client or is the bank?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the mortgage company are the client. The appropriate lender conditions must be adhered to.
Can you explain why leasehold purchase conveyancing in Raynes Park is more expensive?
In summary, leasehold conveyancing in Raynes Park and elsewhere usually requires additional work compared to freehold conveyancing. This includes reviewing the lease, corresponding with the landlord about the service of appropriate notices, procuring up-to-date service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different proprietor have owned the lease since it was first granted.
We are intent on selling our home in Raynes Park and according to the buyers it appears that there is a risk of it being built on contaminated land. Any local conveyancer would know this is not the case. For the life of me I don't know why the purchasers used a web based conveyancing practice as opposed to a conveyancing solicitor in Raynes Park. Having lived in Raynes Park for 5 years we know that this is a non issue. Should we get in touch with our local Authority to seek confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You should enquire of 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 illness)
I used Arc property Solicitors several years past for my conveyancing in Raynes Park. I now require my papers however the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Raynes Park of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been advised by two or three local property agents in Raynes Park to get a quote from a solicitor on your site. Is there a financial inducement for Estate Agents to offer your services over another?
We refuse to give any commission for directing people in our direction. We thought it would be too underhand a fee as a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
My wife and I have appointed a Raynes Park conveyancing solicitor for our home move (novice purchasers) and have picked up in the Ts and Cs that they are not covered by the FCA. Should I be worried or is that the norm with conveyancing practitioner?
We can't see why they should be. Most property lawyer don't lend money. They will be governed by the Solicitors Regulation Authority, who set specific obligations in relation to funds deposited in their bank.