Our lawyer has identified a defect with the lease for the property we are buying in Richmond. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer has advised that he must check that the mortgage company is willing to move forward with this solution. Who is the client here, us or the lender?
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 solicitor must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company 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.
I am planning on selling our house in Richmond and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. A local lawyer would know this is not the case. For the life of me I don't know why the purchasers are using a factory type conveyancing firm as opposed to a conveyancing solicitor in Richmond. Having lived in Richmond for 4 years we know of no issue. Is it a good idea to contact our local Authority to get clarification need.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You should 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 life insurance to cover that same sickness)
I have justdiscovered that Wolstenholmes have been shut down. They carried out my conveyancing in Richmond for a purchase of a leasehold apartment 10 months ago. How can I establish that the property is in my name in the name of the previous owner?
The easiest method to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Richmond conveyancing specialists.
I have been on the look out for a leasehold apartment up to £245,000 and identified one near me in Richmond I like with a park and railway links nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Richmond suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the shortness of the lease will likely be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I am a sole trader looking to lease a unit on a shopping parade. Can you recommend lawyers offering fixed charges for non-domestic conveyancing in Richmond for less than 2k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Richmond, including the sale and purchase of businesses as well as simply premises. Whether you are intending to purchase or lease a shop, pub, restaurant, office, retail premises or a whole business we will find you the right solicitor. As for the costs this will depend on the structure and nuances of the deal. Please provide us with your details or call us so that we may supply you with comprehensive commercial conveyancing quote.
We had our home loan approved last Friday with our lender. We have retained a high street conveyancer in Richmond yesterday. This morning, our broker contacted us saying that the mortgage company said that we cannot use our solicitor as they aren't on their panel. As FTB's, we did not have a clue that the lender had some control over our choice Is this usual?
You are permitted to use any property lawyer you want to use including the said conveyancer in Richmond nevertheless if your mortgage company aren't happy with them you would have to incur an extra fee so the mortgage company can appoint their own solicitors as well to protect their interest. sometimes it is possible your preferred conveyancing firm to get added to the lender list of approved firms. You can use internet search facilities such as lenderpanel.com to find a conveyancing solcitor in Richmond on the mortgage company panel. You can go into your high street mortgage company branch in Richmond. They can recommend conveyancing solicitors in Richmond on the panel for your mortgage company.