Our lawyer has uncovered a defect with the lease for the property we are buying in Upper Clapton. The seller’s lawyers have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer says that he must check that the bank is willing to move forward with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your solicitor 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.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Upper Clapton. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 3/5/2024, the requirements read as follows :
Should commercial conveyancing searches reveal planned roadworks that may impact a commercial site in Upper Clapton?
Many commercial conveyancing solicitors in Upper Clapton will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Upper Clapton. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Upper Clapton.
For every commercial conveyancing transaction in Upper Clapton it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may cause delays to Upper Clapton commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Upper Clapton.
Given that I will soon part with over three hundred thousand on a house in Upper Clapton I would like to talk to a solicitor regarding thetransaction prior to appointing the firm. Is this something that you can arrange?
Absolutely - we would be happy to talk to you we do not take any clients on without you speaking to the solicitor who will be conducting your conveyancing in Upper Clapton.There is no ‘factory style conveyancing’ - each client is unique person, not a matter reference. The practices that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Upper Clapton should be the figure that you end up paying.
My uncle has suggested that I appoint his conveyancers in Upper Clapton. Do I take his guidance?
There are no two ways about it the best way to find a conveyancing lawyer is to have feedback from friends or relatives who have actually used the firm you're contemplating using.