Our lawyer has uncovered a a problem with the lease for the apartment we are buying in Sandbach. The seller’s lawyers have put forward title insurance as a solution. We are content with insurance and will pay for it. Our solicitor has advised that he must be satisfied that the mortgage company is happy with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications. 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.
We are hoping to buy a newly converted apartment in Sandbach with a mortgage from Halifax.We would like to retain our Sandbach conveyancing practitioner but Halifax advised that her practice is not on their "panel". we are left little option but to use a Halifax panel firm or retain our local solicitor and fork out for a Halifax panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The home loan issued to you is subject to its terms and conditions, one of which will be that lawyers must be on the Halifax approved list. in the past, most lenders had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Halifax
Me and my partner are purchasing a property in Sandbach. It might be a silly question but how we can trust a lawyer? At some point we will need to put our life savings into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it the case that all Sandbach solicitors on the Clydesdale conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Clydesdale conveyancing panel they would need to be governed by the SRA. The majority of banks do allow licenced conveyancers on their panel and in such a situation the practice would be overseen by the Council of Licensed Conveyancers.
The formalities of my purchase has taken place for my property in Sandbach. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I appreciate that there are debates on Chancel Insurance on online forums. Do I need this when acquiring a house in Sandbach? or I am told that there is an ancient law that could mean that homeowners living in a parish church boundary may be liable to pay for maintenance towards the chancel in proximity to the church. Is this applicable for conveyancing in Sandbach?
Unless a prior purchase of the premises took place after 12 October 2013 you may assume that conveyancing practitioners conducting conveyancing in Sandbach to continue to suggest a chancel search and or insurance against a claim.
My father has suggested that I appoint his lawyers for conveyancing in Sandbach. Should I find my own conveyancer?
No doubt the ideal way to choose a conveyancing practitioner is to get guidance from friends or family who have actually used the firm that you are contemplating using.
Looking forward to sign contracts shortly on a studio apartment in Sandbach. Conveyancing solicitors have said that they report fully within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Sandbach should include some of the following:
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What options are open to you if a neighbour is in violation of a provision in their lease? The landlord’s rights to access the flat. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. if lease caters for for a reserve fund? The total ownership of the property. This could be the apartment itself but might include a attic or basement if relevant. Do you need to have carpet in the flat or are you allowed wood flooring?
I purchased a 1st floor flat in Sandbach, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Sandbach with an extended lease are worth £190,000. The ground rent is £65 per annum. The lease ends on 21st October 2086
You have 61 years left to run we estimate the price of your lease extension to be between £19,000 and £22,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.