My lawyer has discovered a a problem with the lease for the flat we are buying in Highworth. The seller’s lawyers have offered defective title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancer says that he must ensure that the bank is willing to move forward 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 lender are the client. Your conveyancer 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 lender 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.
It has been three months following my purchase conveyancing in Highworth completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Highworth differ for newly converted properties?
Most buyers of new build or newly converted property in Highworth approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is finished. This is because house builders in Highworth typically acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Highworth or who has acted in the same development.
My business partner and I are wishing to take over a lease of a shop on the high street. Can you recommend lawyers offering no-sale-no costs for non-domestic conveyancing in Highworth for below 2k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Highworth, including the sale and purchase of businesses as well as simply premises. If you are intending to purchase or sell a shop, pub, restaurant, office, retail premises or a whole business we can find you the right firm. As for the charges this will depend on the structure and terms of the deal. Please provide us with your details or call us so that we can supply you with comprehensive commercial conveyancing calculation.
Am I better off to go with a Highworth conveyancing practitioner who is local to the property I am hoping to buy? We have a good friend who can handle the legal work however his firm is located approximately 350miles drive away.
The benefit of a local Highworth conveyancing firm is that you can attend the office to sign documents, deliver your ID and apply pressure on them if necessary. Having local Highworth know how is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If other friends have used your friend and in the main were content that should surpass using an unfamiliar Highworth conveyancing lawyer solely due to them being based in the area.