Me and my partner are buying a ground floor flat in Bracebridge Heath. My property lawyer is not on the lender conveyancing panel. Am I still permitted to appoint my Bracebridge Heath conveyancing solicitor notwithstanding that they are not on the mortgage company approved list?
You must have a conveyancer to deal with the legal work required when you require a loan to buy your property. They will carry out all the relevant due diligence on the property, make sure that you will be properly registered as the owner and ensure that all the necessary mortgage documentation is in place. You could appoint a Bracebridge Heath property lawyer of your choosing. However, where the lawyer selected is not on the lender conveyancing panel supplemental fees will arise as separate legal representation will be required by them. Bank panel applications can be submitted, so provided your conveyancer has not in the past applied for membership they should do so.
Our solicitor has uncovered a a problem with the lease for the apartment we are purchasing in Bracebridge Heath. The other side have offered title insurance as a solution. We are content with insurance and will cover the costs. Our property lawyer has advised that he must ensure that the bank is willing to move forward with this solution. Are we the client or is the bank?
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 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 conveyancing practitioner will have no choice but to discontinue acting for you.
I am buying a new build flat in Bracebridge Heath. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Bracebridge Heath
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please confirm the Lease plans are surveyor prepared.
I am looking for a conveyancing solicitor in Bracebridge Heath for my remortgage. Can I review a firm’s record with the profession’s regulator?
Members of the public may read presented Solicitor Regulator Association (SRA) decisions stemming from investigations started on or after 1 January 2008. Visit Check a solicitor's record. For information Pre 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The regulator sometimes monitor call for training purposes.
Me and my wife have just had an offer accepted on a property and had meeting on Tuesday with Leeds Building Society for the mortgage. They advised me that when it comes to appointing a solicitor that unless they are on their approved list of lawyers then we will have to pay out an extra charge of £200. This is is due to the fact that they would then have to appoint a conveyancer to act on their behalf as well as the one we appoint for ourselves and we assume responsibility for their fees. I have asked Leeds Building Society to send me with a list so I can obtain quotes only from their approved solicitors but was told that I need to check with each individual conveyancer to see if they are on the panel. Is there a simple way of finding out who is on a lender panel?
You should ask Leeds Building Society what their criteria for joining their panel is for a solicitor.Then ask the property lawyer of your choice whether they fit that criteria and have they acted on loans for Leeds Building Society historically. If the answer to those is yes, then just double check with Leeds Building Society. Alternatively please use our search facility and we may be able to find you a lawyer in Bracebridge Heath on the panel for Leeds Building Society.