Our lawyer has uncovered a a problem with the lease for the property we are buying in St Columb. The other side have suggested defective 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. Are we the client or is the mortgage company ?
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 specifications. 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 solicitor will have no choice but to discontinue acting for you.
A relative advised me that where I am purchasing in St Columb I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard St Columb conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about St Columb around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the St Columb Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, St Columb Education with maps and statistics, Local Amenities and other useful data about St Columb.
4 months have gone by following my purchase conveyancing in St Columb concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I was recommended by two or three local selling agents in St Columb to select a conveyancer on your site. What’s the financial advantage for Estate Agents to offer your services over and above alternative conveyancing organisations?
We don’t make any referral fee for directing people in our direction. We found it would be just too difficult a fee as home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am thinking of appointing a conveyancing solicitor in St Columb for my house move. Is there any facility to check a solicitor's record with the profession’s regulator?
You can read published Solicitor Regulator Association (SRA) decisions resulting from inquisitions commenced on or after Jan 2008. Visit Check a solicitor's record. To find information Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The SRA may recorded call for training reasons.
I've found a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have subsequently discovered that the title is leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in St Columb. Conveyancing lawyers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in St Columb ?
The majority of houses in St Columb are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area can help the conveyancing process. It is clear that you are buying in St Columb so you should seriously consider shopping around for a St Columb conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to carry out changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the property is located on an estate. Your conveyancer should advise you fully on all the issues.