Our solicitor has uncovered a a legal deficiency with the lease for the property we are buying in Southborough. The other side have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer says that he must ensure that the bank is content with this solution. Are we the client or is 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 solicitor 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 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 conveyancer will have no choice but to discontinue acting for you.
What does my ID and proof of funds have anything to do with my conveyancing in Southborough? Is this really warranted?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to check the identity of the person or body they are dealing with before they can accept their conveyancing instruction. The Terms of Engagement that you need to sign should confirm this. Your lender will also require certain documents to be checked. Where you refuse to provide ID verification documents, your conveyancer will not be able to take you on as a client.
I am assisting my aunt sell her house in Southborough. Will the solicitor order an energy assessment or should I organise this?
After the demise of Home Packs, energy performance certificates was left as a required part of selling a property. An energy performance certificate needs to be to hand prior to the property being marketed. This is not as aspect of the sale process that solicitors ordinarily arrange. Where you are instructing a Southborough conveyancing lawyer they may be willing to arrange energy performance certificates due to their contacts with reputable Southborough accredited person
I am expecting a OIP from Coventry BS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Coventry BS recommend any Southborough solicitors on the Coventry BS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Southborough solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
About to purchase flat in Southborough. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the RBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Southborough solicitor is on the RBS conveyancing panel.
How simple is it to use your search tool to select a conveyancing solicitor in Southborough on the approved list for my lender?
Step one is to select a bank such as Lloyds TSB Bank, Coventry Building Society or Nottingham Building Society then type in your location for instance Southborough. Conveyancing practices in Southborough and beyond will then be identified.
I'm selling a bungalow in Southborough. I have found my conveyancer's company on the Law Society's list, but I can't locate my lawyer's name as listed on the regulator's website. Should I be concerned?
Not every individual in the practice must be listed by the regulator. As long there is a manager qualified to 'oversee' the work, the actual day-to-day activity can be undertaken by unqualified staff.