My husband and I are intending to purchase a 1 bedroom flat in Seven Kings with a mortgage. We like our Seven Kings lawyer, but the bank advise he's not on their "panel". We have to appoint one of the lender panel conveyancing practices or continue with our Seven Kings lawyer and pay for one of their panel firms to represent them. We consider that this is unjust; are we not able to require that the lender use our Seven Kings conveyancing practitioner ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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 Seven Kings conveyancing solicitor to apply to be on the conveyancing panel.
Our solicitor has uncovered a defect with the lease for the property we are buying in Seven Kings. The other side have put forward title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor says that he must be satisfied that the mortgage company is happy with this solution. Are we the client or is the bank?
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 solicitor must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank 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 am considering applying for a Principality mortgage for purchase of a newly converted (under development) in Seven Kings with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Principality ?
There is nothing to stop you using your solicitor, but Principality will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Despite weeks of looking the Title Certificate and documents to our property are lost. The lawyers who did the conveyancing in Seven Kings 4 years ago no longer exist. What are my next steps?
Assuming the title is registered the information relating to your proprietorship will be documented by the Land Registry under a Title Number. It is possible to carry out a search at the Land Registry, find your property and order current copies of the Registered Entries for a small fee. If the property is Leasehold then the Land Registry will in most cases retain a file copy of the Registered Lease and again, a copy can be ordered for a small fee.
The estate agent has sent us the confirmation of our purchase of a new build flat in Seven Kings. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Seven Kings
-
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are architect prepared.
My company is hoping to take an assignment of a lease of a shop on the high street. Can you recommend lawyers offering no-move-no fees for non-domestic conveyancing in Seven Kings for less than £1,200?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Seven Kings, including the sale and purchase of businesses as well as simply premises. Whether you are looking to acquire or dispose of a shop, pub, restaurant, office, retail unit or a whole business we can put you in touch with the right lawyer. As for the costs this will depend on the structure and complexity of the proposed transaction. Let us have your details or call us so that we can furnish you with comprehensive commercial conveyancing quote.