Our solicitor has identified a defect with the lease for the apartment we are buying in Surrey. The other side have put forward title insurance as a solution. We are content with insurance and will pay for it. Our lawyer has advised that he must check that the bank is content with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your conveyancing practitioner 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 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 conveyancer will have no choice but to discontinue acting for you.
Can you explain why leasehold purchase conveyancing in Surrey costs more?
Surrey leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Having spent time researching consumer advice sites for an online lawyer in Surrey, most post that I must look for a CQS kitemarked lawyer. Can you explain what CQS is?
Surrey Conveyancing Quality Scheme practices have obtained certification by the law Society The Law Society introduced CQS to establish evidence of quality standards in the in the legal transfer of properties. CQS helps consumers to identify solicitor firms that provide a quality residential conveyancing. Surrey is one of locations in England and Wales in which accredited firms have offices. The scheme requires solicitors to undergo a strict assessment, compulsory training, self-certification, random audits and yearly assessments in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Council of Mortgage Lenders.
Should my solicitor be raising questions regarding flooding as part of the conveyancing in Surrey.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Surrey. Plenty of people will buy a property in Surrey, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the property. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, however there are a number of searches that may be undertaken by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in Surrey. The standard property information forms given to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the owner to discover whether the premises has suffered from flooding. In the event that the premises has been flooded in past and is not notified by the seller, then a purchaser may commence a legal claim for losses stemming from an incorrect reply. A purchaser’s solicitors should also order an environmental search. This should higlight whether there is any known flood risk. If so, further inquiries will need to be made.
What is different about your site and other internet conveyancing solicitors when it comes to conveyancing in Surrey?
At this site receive a conveyancing costs illustration via a Solicitor or Licensed Conveyancer that understands the issues for your conveyancing in Surrey. As opposed to estate agents and brokerage sites we do not operate kick-back deals with solicitors. Many agents and online brokers 'recommend' solicitors paying the highest per referral, rather than the best value conveyancing in Surrey
I am using a search engine for the phrase on line conveyancing in Surrey it brings up numerous solicitorsin the vicinity. With so much choice what is the best way to find the right property lawyer for the sale of my house?
The best way of finding the right conveyancer is via personal recommendation, so ask friends and relatives who have acquired a property in Surrey or the local estate agent or mortgage broker. Fees for conveyancing in Surrey vary, so it's sensible to request a minimum of three fee calculations from different conveyancers. Make sure that you clarify that the charges are assured not to escalate.