My solicitor has uncovered a a legal deficiency with the lease for the property we are purchasing in West Ealing. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our property lawyer has advised that he must check that the mortgage company is content with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook conditions. 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 property lawyer will have no choice but to discontinue acting for you.
I had an offer accepted on a property in West Ealing on 23/9/2024, valuation was booked 4 days later, received a clean bill of health. Conveyancer instructed, so all that was missing was my mortgage offer. Having made daily calls to Co-operative and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Co-operative conveyancing panel. Are Co-operative entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Co-operative to deal with your lawyer's application to be on the Co-operative conveyancing panel. There's no guarantee that your solicitor will be accepted.
UBS have agreed my home loan in principle, my bid on a flat in West Ealing has been accepted, what are the next steps?
The estate agent will wish to know who your solicitors are (be sure the conveyancing practitioners are on the lender’s approved list). Telephone UBS or your broker and finish off any relevant forms. UBS will sellect a valuer who will get in touch with the estate agent or owners to arrange a slot for the valuation to happen. Once carried out (assuming no problems) it takes approximately a fortnight to receive the mortgage offer. UBS will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in West Ealing.
I have finally had an offer on a flat in West Ealing accepted, but there is a chain. The sellers have offered on a property, but it’s not been accepted yet, and are looking at other flats in the pipeline. I have instructed a local conveyancing solicitor in West Ealing. What do I do now? At what point should I apply for the mortgage with Coventry BS?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then valuation, West Ealing conveyancing search charges, etc). First, you must ensure that your conveyancer is on the Coventry BS approved list. As to the next stages this very much depends on the uniqueness of your case, attraction to this property and on the state of the market. In a hot market many home buyers will apply for the mortgage with Coventry BS and pay for the valuation and only if it comes back ok would they pay their conveyancing practitioner to press on with searches.
I have a renovated Edwardian house in West Ealing. Conveyancing lawyer acted for me and Accord Mortgages Ltd. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in West Ealing and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with your conveyancing practitioner who conducted the purchase.
I am looking for a leasehold apartment up to £195,000 and found one near me in West Ealing I like with a park and railway links in the vicinity, however it's only got 52 years unexpired on the lease. I can't really find anything else in West Ealing suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan that many years may be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
Do I need to be suspicious about 3rd parties that I am dealing with are recommending an online conveyancing firm as opposed to a local West Ealing conveyancing practice?
As with many professional services, often referrals from connections can be most helpful. But there are lots of people with a vested interest in a conveyancing matter; estate agents, mortgage brokers and mortgage companies may suggest conveyancers to instruct. Sometimes the lawyers might be known to one of the organisations as being good in their field, but occasionally there may be a financial incentive behind the recommendation. You have the right to select your preferred lawyer. Don't forget that some banks operate an approved list of conveyancers you have to use for the mortgage related work in your transaction.
How much should conveyancing in West Ealing cost?
The total sum levied for conveyancing in West Ealing are likely to be calculated at:
- a standard sum; or
- on a time spent basis (i.e. the time spent on the particular case).
These days you seldom hear of West Ealing conveyancing companies invoice on time basis