Our solicitor has discovered a a problem with the lease for the flat we are buying in Leven. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancing practitioner has advised that he must ensure 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 lender are the client. Your conveyancing practitioner 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.
Can your site be used to find a Conveyancing solicitor in Leven even if I’m not purchasing or selling a house, for instance if I wish to buy an office in Leven with a mortgage from HSBC Bank?
Our comparison service is predominantly there to find domestic conveyancing solicitors in Leven but we have recorded at the end of this page a selection of Leven commercial conveyancing firms. You will need to make contact with the company directly to see if they are also authorised to represent HSBC Bank
My grandfather passed away six months ago and as sole heir and executor I was left the house in Leven. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Coventry BS, pay off the mortgage. Is this allowed?
Given you intend to re-mortgage then Coventry BS will insist on your using a conveyancer on the Coventry BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Coventry BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Coventry BS mortgage is registered as a charge at the Land Registry.
I am looking for a leasehold apartment up to £305k and identified one near me in Leven I like with a park and railway links nearby, the downside is that it's only got 52 years on the lease. I can't really find anything else in Leven for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a mortgage the shortness of the lease may be an issue. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
I have been sourcing a conveyancing lawyer in Leven for my home move. Can I review a firm’s complaints history with the profession’s regulator?
One can see published Solicitor Regulator Association (SRA) determinations arising from investigations from 2008 onwards. Visit Check a solicitor's record. To find records Pre 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The regulator may recorded call for training reasons.