My lawyer has uncovered a a problem with the lease for the property we are purchasing in Sheen Park. The seller’s lawyers have put forward title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer has advised that he must be satisfied that the bank is content 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 lender 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 property lawyer will have no choice but to discontinue acting for you.
Do I need to take out insurance to protect me from financial exposure to chancel repairs when buying a property in Sheen Park?
Unless a prior acquisition of the property completed post 12 October 2013 you could take it that solicitors conducting conveyancing in Sheen Park to remain encouraging a chancel search and or chancel repair liability insurance.
I have recentlybecome aware that Wolstenholmes have closed. They carried out my conveyancing in Sheen Park for a purchase of a freehold house 10 months ago. How can I check that my home is not still registered in the name of the former proprietor?
The easiest method to see if the premises is in your name, you can carry out 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 Sheen Park conveyancing specialists.
Do I need to be concerned by third parties that I am dealing with are recommending a national conveyancing firm rather than a High Street Sheen Park conveyancing practice?
As is the case with many service providers, often suggestions from relatives can be extremely useful or valuable. Yet there are many players in a conveyancing deal; estate agents, mortgage brokers and mortgage companies may suggest solicitors to choose. On occasion the solicitors might be known to one of the organisations as being good in their field, but sometimes there might be a commercial relationship behind the recommendation. You are at liberty to select your own conveyancer. You need to be aware that the majority of banks specify a panel list of lawyers you must use for the mortgage related work in your house move.
My partner has recommend that I instruct his lawyers for conveyancing in Sheen Park. Should I use them?
No doubt the best way to find a conveyancing solicitor is to have recommendations from friends or family who have actually previously instructed the firm that you are are thinking of instructing.
I’m about to sell my 2 bed flat in Sheen Park.Conveyancing lawyers have not yet been instructed however I have just received a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should clear the service charge as you normally would given that all ground rent and maintenance payments should be apportionedas part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially