I can't travel far from West Byfleet. I would like to know the reason why all West Byfleet solicitors aren't automatically on all bank panels?
As inequitable as it may seem for mortgage companies to restrict who can represent them, from the public’s or lawyer’s standpoint, the flip side is that lending institutions are increasingly anxious and regard it crucial to protect them from illegal activities. As a consequence of this concern banks are limiting their panel of approved conveyancing lawyers to a size that they are happy to control.
Our solicitor has discovered a defect with the lease for the property we are buying in West Byfleet. The seller’s lawyers have offered defective title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer says that he must ensure that the mortgage company is happy with this solution. Are we the client or is the mortgage company ?
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 lawyer will have no choice but to discontinue acting for you.
Are the West Byfleet conveyancing solicitors identified as being on the TSB conveyancing panel, together with their details provided by TSB?
West Byfleet conveyancing firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
Should our solicitor be raising questions about flooding as part of the conveyancing in West Byfleet.
Flooding is a growing risk for lawyers dealing with homes in West Byfleet. Some people will acquire a property in West Byfleet, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, but there are a number of searches that can be undertaken by the purchaser or by their lawyers which should figure out the risks in West Byfleet. The standard information given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the owner to find out if the property has suffered from flooding. In the event that flooding has previously occurred which is not disclosed by the vendor, then a purchaser could commence a compensation claim as a result of such an inaccurate answer. The purchaser’s conveyancers should also commission an enviro report. This should reveal if there is any known flood risk. If so, further investigations will need to be made.
I used Arc property Solicitors a few years ago for my conveyancing in West Byfleet. Now, I need my documents but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in West Byfleet of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a ground for flat up to £195,000 and identified one near me in West Byfleet I like with amenity areas and transport links nearby, however it's only got 61 years unexpired on the lease. I can't really find anything else in West Byfleet suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a mortgage that many years will be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you may request that they start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.