Our solicitor has discovered a a problem with the lease for the flat we are buying in Marchington. The other side have suggested defective 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. 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 bank 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 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.
We see that you have a post code search directory listing firms on the RBS conveyancing panel. Do companies pay you a referral fee if I retain them for our conveyancing in Marchington?
We are a listing service only for law firms wishing to communicate if they are on the RBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Marchington.
We are buying a property and the conveyancer has raised the issue of Chancel Repair to which the property may be obligated to contribute to as it falls into the area of such a church. She has mentioned insurance. Is this really required for conveyancing in Marchington
Unless a previous purchase of the property took place after 12 October 2013 you could take it that lawyers delivering conveyancing in Marchington to continue to recommend a chancel search and or chancel repair liability insurance.
How does conveyancing in Marchington differ for new build properties?
Most buyers of new build premises in Marchington contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is finished. This is because house builders in Marchington typically purchase the land, 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 Marchington or who has acted in the same development.
I am downsizing from my home. My past solicitors has retired. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Marchington if that makes things easier.
Please use our search tool to help you choose a solicitor for your conveyancing in Marchington. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.