Our solicitor has identified a a legal deficiency with the lease for the flat we are buying in Nechells. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancing practitioner says that he must ensure that the mortgage company is content with this solution. Who is the client here, us or the bank?
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 conveyancing practitioner 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 lawyer will have no choice but to discontinue acting for you.
At what point can the exchange of contracts happen for domestic conveyancing in Nechells and do I need to attend the lawyers office?
If you are in close proximity to one of the conveyancing solicitors in Nechells you are invited in to sign documents. However, the firms we recommend offer a countrywide conveyancing service and provide as equally comprehensive and professional a job for you when communicating with you electronically. The signing of the purchase agreement is not the critical part. Signing on the dotted line is just a prerequisite for the conveyancer to exchange contracts when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Nechells)to be in the office at the appropriate time.
My stepmother pointed out to me me that in buying a property in Nechells there may be various restrictions affecting the ability to carry out external alterations to a property. Is this right?
We are aware of a number of properties in Nechells which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Nechells should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My wife and I buying a terrace house in Nechells. The intention is to convert the garage to a playroom at the house.Will legal due diligence on the property involve investigations to ascertain if these alterations are allowed?
Your conveyancer will check the deeds as conveyancing in Nechells will on occasion identify restrictions in the title documents which prohibit certain alterations or necessitated the permission of another owner. Some additions call for local authority planning permissions and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be sensible to check these issues with a surveyor prior to committing yourself to a purchase.
We are getting a further advance on our home loan from Virgin Money as we want to conduct a loft conversion to our property in Nechells. Do we need to appoint a high street Nechells solicitor on the Virgin Money conveyancing panel to deal with the legals?
Virgin Money do not ordinarily require firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Virgin Money panel.
I decided to have a survey done on a house in Nechells ahead of appointing lawyers. I have been advised that there is a flying freehold overhang to the property. My surveyor has said that some lenders may not grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. Should you wish to telephone us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Nechells. Conveyancing will be smoother if you use a solicitor in Nechells especially if they are acquainted with such properties in Nechells.
In what way can the Landlord & Tenant Act 1954 affect my commercial premises in Nechells and how can you help?
The 1954 Act affords protection to business tenants, giving them the a statutory right to make a request to court for a continuation of occupancy at the end of an expired lease. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and help with commercial conveyancing in Nechells