My solicitor has uncovered a defect with the lease for the property we are purchasing in Little Burstead. The seller’s lawyers have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our property lawyer says that he must check that the bank is happy 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 mortgage company are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company 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.
I purchased a freehold premises in Little Burstead but still charged rent, why is this and what is this?
It’s unusual for properties in Little Burstead and has limited impact for conveyancing in Little Burstead 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
Should our lawyer be raising questions concerning flooding as part of the conveyancing in Little Burstead.
The risk of flooding is if increasing concern for conveyancers conducting conveyancing in Little Burstead. Some people will buy a house in Little Burstead, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, however there are a numerous searches that may be undertaken by the buyer or by their lawyers which will give them a better understanding of the risks in Little Burstead. The standard completed inquiry forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the owner to find out if the premises has historically flooded. In the event that flooding has previously occurred which is not revealed by the vendor, then a buyer may issue a legal claim for losses resulting from an inaccurate response. The purchaser’s conveyancers may also carry out an environmental report. This will disclose if there is any known flood risk. If so, more detailed investigations will need to be conducted.
I have recentlyfound out that Wolstenholmes have been shut down. They conducted my conveyancing in Little Burstead for a purchase of a leasehold flat 10 months ago. How can I be sure that my home is registered correctly in the name of the former proprietor?
The easiest way to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Little Burstead conveyancing specialists.
As co-executor for the estate of my grandfather I am disposing of a residence in Cardiff but reside in Little Burstead. My conveyancer (approximately 235 miles awayneeds me to execute a stat dec before completion. Can you recommend a conveyancing practitioner in Little Burstead to witness this legal document for me?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are Little Burstead based