Just been in touch with my conveyancing lawyer in Southend On Sea who acted for me 18 months ago requesting a conveyancing costs illustration based on an identical type of house move (a leasehold residence and a freehold premises) of similar values with a home loan from Bank of Scotland. I am now being quoted twice the amount. Am I right to be tempted to shop around for a cheaper internet conveyancer?
The quote is fractionally on the steep side. If you shop around you could shave off some of the cost by as much as £125. On the other hand, providing that you were happy with the assistance the firm offered you maylive to rue opting for an an untested conveyancer. Don't forget to be sure the firm can also act for Bank of Scotland. You can use our search tool to find a Southend On Sea conveyancing firm on the Bank of Scotland approved list of lawyers, which can often include conveyancing solicitors in Southend On Sea.
We are acquiring a new build apartment in Southend On Sea and my solicitor is informing me that she is duty bound to the mortgage company to disclose incentives from the builder. I am nearing the developer’s deadline to sign contracts and my preference is not to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
It is a dozen years since I bought my house in Southend On Sea. Conveyancing solicitors have just been retained on the sale but I can't find my title deeds. Is this a problem?
You need not be too concerned. First there is a possibility that the deeds will be with the mortgage company or they may be in the possession of the conveyancers who oversaw the purchase. Secondly in most cases the title will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors obtaining current official copies of the land registers. The vast majority of conveyancing in Southend On Sea relates to registered property but in the unlikely event that your home is unregistered it adds to the complexity but is not insurmountable.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Southend On Sea is where the house is located. Can you shed any light on this issue?
Flying freeholds in Southend On Sea are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Southend On Sea you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Southend On Sea may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Having had my offer accepted I require leasehold conveyancing in Southend On Sea. Before diving in I want to be sure as to the number of years remaining on the lease.
Assuming the lease is registered - and 99.9% are in Southend On Sea - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Southend On Sea Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing
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How many of the leaseholders are in arrears for their service charge payments? Does this lease have in excess of 82 years unexpired? The prefered form of lease arrangement is a share of the freehold. In this scenario the lessees benefit from being in charge if their destiny and even though a managing agent is often employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.
Our conveyancer in Southend On Sea has identified a a problem with the lease for the apartment we are buying in Southend On Sea. The seller’s lawyers have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor says that as he is on the mortgage company conveyancing panel he must be satisfied that the lender 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 mortgage company are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will 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 lawyer will have no choice but to discontinue acting for you.