Our solicitor has discovered a a legal deficiency with the lease for the property we are buying in Rowley Regis. The other side have put forward title insurance as a solution. We are content with insurance and will pay for it. Our property lawyer says that he must ensure that the lender is willing to move forward 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 mortgage company are the client. Your lawyer 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 conveyancer will have no choice but to discontinue acting for you.
I have a decision in principle. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to use their panel lawyer as I would prefer to instruct a Rowley Regis based conveyancing firm?
Do check but the chances are that appoint one of their panel solicitors where you accept the "fee-free" deal. Contact the lender and check if they offer you a cash alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor in Rowley Regis.
A colleague suggested that where I am purchasing in Rowley Regis I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Rowley Regis conveyancing searches. It is a large report of about 40 pages, listing and setting out important information about Rowley Regis around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Rowley Regis Education with maps and statistics, Local Amenities and other useful information concerning Rowley Regis.
I am looking for a leasehold apartment up to £195,000 and identified one round the corner in Rowley Regis I like with amenity areas and station in the vicinity, however it only has 51 remaining years left on the lease. I can't really find anything else in Rowley Regis in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan the shortness of the lease may be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months 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 with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
In my capacity as executor for the will of my uncle I am disposing of a property in Newport but I am based in Rowley Regis. My lawyer (who is 200 miles awayrequires that I sign a statutory declaration prior to completion. Could you suggest a conveyancing solicitor in Rowley Regis to attest and place their company stamp on the document?
Technically speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are located in Rowley Regis
Can you confirm the aspects of conveyancing provided by Rowley Regis conveyancing solicitors?
The majority of Rowley Regis conveyancing solicitors will carry out a broad sphere of legal advice to residential and rural land proprietors, sellers, buyers, freeholders and tenants such as:
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Home sale conveyancing in Rowley Regis or beyond
Private residential purchase conveyancing in Rowley Regis and beyond
Rowley Regis conveyancing for Conveyancing for repossessed property Advice on Energy Performance Certificates Shared equity purchase (part buying and part renting) Buying through Right to Buy (RTB) or Right to Acquire (RTA) schemes