My conveyancer has discovered a defect with the lease for the flat we are purchasing in Snodland. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will pay for it. Our property lawyer has advised that he must check that the bank 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 lender 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 lender 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.
Me and my brother purchased a terraced Edwardian property in Snodland. Conveyancing lawyer acted for me and Accord Mortgages Ltd. I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold under the matching address. Is it worth asking Accord Mortgages Ltd to clarify?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Snodland and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing lawyer who conducted the conveyancing.
I am looking for a ground for flat up to £245,000 and found one round the corner in Snodland I like with a park and station in the vicinity, the downside is that it only has 52 years on the lease. There is not much else in Snodland suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a mortgage the shortness of the lease may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
Do I need to be wary about estate agents that I am dealing with are recommending a factory type conveyancing firm as opposed to a High Street Snodland conveyancing practice?
As is the case with lots of professional services, often suggestions from family and friends can be extremely useful or valuable. But there are many parties with a keen interest in a conveyancing matter; estate agents, financial adviser and banks may suggest conveyancers to retain. On occasion the conveyancers might be known to one of the organisations as experts in their field, but occasionally there exists a financial incentive behind the endorsement. You have the right to choose your preferred lawyer. You need to be aware that many mortgage providers operate an approved list of law firms you must use for the mortgage related work in your house move.
I am using a search engine for the phrase on line conveyancing in Snodland it reveals many property lawyersin the area. With so much choice what is the best way to find the right solicitor for me?
The ideal method of finding the right conveyancer is through a trusted testimonial, so enquire of friends and family who have purchased a property in Snodland or a local estate agent or mortgage broker. Fees for conveyancing in Snodland vary, so it's advisable to obtain a minimum of three fee calculations from varying types of solicitors. Dont forget to clarify that the costs are assured not to rise.
Can you set out the aspects of conveyancing undertaken by Snodland conveyancing companies?
Generally most Snodland conveyancing firms manage to handle a number of services to home and land proprietors, vendors, purchasers, freeholders and tenants assistingwith some of the following:
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House sale conveyancing in Snodland and nationally
Private residential purchase conveyancing in Snodland and beyond
Non-contentious landlord & tenant matters Help to Buy Conveyancing in Snodland or in all parts of the country Snodland conveyancing for Conveyancing for repossessed property All types of leasehold property including, apartments and maisonettes