Our solicitor has identified a a problem with the lease for the apartment we are buying in Pagham. The seller’s lawyers have suggested title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancing practitioner has advised that he must ensure that the mortgage company is happy with this solution. Are we the client or is the bank?
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 property lawyer will have no choice but to discontinue acting for you.
I have been told that property searches are the main reason for obstruction in Pagham conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of delay in conveyancing in Pagham.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a simple, no chain conveyancing. Pagham is where the house is located. Can you shed any light on this issue?
Flying freeholds in Pagham are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Pagham you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pagham may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Given that I am about to part with £400,000 on a two bedroom apartment in Pagham I wish to talk to a conveyancer about myhouse move before giving the go ahead to the firm. Can this be arranged?
We could not agree more - we would be delighted to talk to you we do not take any clients on without you speaking to the lawyer due to be conducting your property ownership legalities in Pagham.There is no ‘factory style conveyancing’ - every client is an important individual, not a matter reference. The law firms that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Pagham should be the figure that you are charged.
I need to instruct a conveyancing solicitor for leasehold conveyancing in Pagham. I've discover a site which looks to be the perfect offering If there is a chance to get all the legals completed via phone that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?