Our solicitor has uncovered a a legal deficiency with the lease for the flat we are purchasing in Long Ashton. The seller’s lawyers have offered title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancing practitioner says that he must be satisfied that the mortgage company is happy 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 lawyer must comply with the UK Finance Lenders’ Handbook conditions. 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 property lawyer will have no choice but to discontinue acting for you.
My mortgage company has recommended solicitors on their panel based in Long Ashton but I would rather instruct a conveyancing lawyer in Long Ashton round the corner to me. Are you able to help?
Not all Long Ashton conveyancing practitioners are on all lender’s conveyancing panel. Use our find an approved solicitor tool to identify a Long Ashton conveyancing conveyancer on the on the bank panel.
What is the difference between a licensed conveyancer and conveyancing solicitor in Long Ashton
There are many recorded licenced Conveyancers in Long Ashton and Solicitor firms in Long Ashton to choose from It is important to make clear that the two are regulated professionals specialising in the legal aspects of the home buying process. Both can conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Can you help - my lawyer says that restrictive coveneant insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Long Ashton?
The appropriate level of restrictive coveneant indemnity insurance should be dictated by who your lender. It would differ for example between Barclays and Leeds Building Society. Conveyancing solicitors as opposed to borrowers take out such insurances.
is it true that all Long Ashton solicitor firms on the Coventry BS conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Coventry BS conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Some banks do list licenced conveyancers on their panel and in that case the practice would be overseen by the Council of Licensed Conveyancers.
Due to the guidance of my in-laws I had a survey completed on a property in Long Ashton prior to instructing solicitors. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some banks may refuse to grant a mortgage on such a premises.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. Should you wish to telephone us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Long Ashton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Long Ashton to see if the conveyancing will be more expensive.
My step-father has encouraged me to instruct his conveyancers in Long Ashton. Should I find my own solicitor?
No doubt the ideal way to select a conveyancing solicitor is to seek referrals from friends or family who have experience in using the conveyancer that you are considering.