Our lawyer has uncovered a a legal deficiency with the lease for the flat we are buying in Sipson. The seller’s lawyers have put forward defective title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer says that he must ensure that the lender is willing to move forward with this solution. Who is the client here, us or 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 conveyancer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank 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.
Can I use your services to recommend a Conveyancing solicitor in Sipson even where I’m not purchasing or selling a house, for instance if I wish to buy an office in Sipson with a mortgage from Barclays ?
Our search tool is primarily used to find domestic conveyancing solicitors in Sipson but we have listed at the bottom of this page a selection of Sipson commercial conveyancing firms. You will need to enquire with the firm directly to see if they can also act for Barclays
Various online forums that I have frequented warn that are a common reason for hinderance in Sipson conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Sipson.
I am looking for a flat up to £235,500 and found one close by in Sipson I like with amenity areas and railway links nearby, however it only has 51 years unexpired on the lease. There is not much else in Sipson suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage that many years will likely be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
My brother has suggested that I appoint his conveyancing solicitors in Sipson. Should I use them?
There are no two ways about it it’s preferable to find a conveyancing practitioner is to seek guidance from friends or relatives who have previously instructed the conveyancer that you are are thinking of instructing.