My lawyer has uncovered a defect with the lease for the flat we are buying in Ealing. The seller’s lawyers have suggested title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancer says that he must ensure that the bank is content 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 lender are the client. Your solicitor 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 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 purchased a freehold house in Ealing but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Ealing and has limited impact for conveyancing in Ealing but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
How simple is it to use your search facility to choose a conveyancing lawyer in Ealing on the approved list for my mortgage?
Step one is to select a bank such as Accord Mortgages Ltd, Bank of Scotland or Platform Home Loans Ltd then specify your location for instance Ealing. Conveyancing practices in Ealing and across England and Wales will then be listed.
I need to instruct a conveyancing solicitor in Ealing for my home move. Can I review a solicitor's record with the profession’s regulator?
One may review presented Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find records Pre 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, call +44 (0)121 329 6800. The regulator sometimes monitor call for training reasons.
Finally our conveyancing in Ealing is completing on Friday, yet the vendors I am buying off wants to vacate 24 hours later at afternoon. Do I accept such a idea?
You can't complete on a Saturday because the bank systems aren't working.