Our solicitor has identified a a problem with the lease for the apartment we are buying in West Kensington. The other side have put forward defective title insurance as a workaround. We are happy with insurance and will pay for it. Our has advised that he must check that the lender is willing to move forward with this solution. Who is the client here, us or the lender?
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 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 will have no choice but to discontinue acting for you.
is it true that all West Kensington solicitors on the conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Many mortgage companies do list licenced conveyancers on their panel in which case such firms would be overseen by the Council of Licensed Conveyancers.
My wife and I are spending time viewing houses in West Kensington and I am now considering a potential offer. Is it premature to have a solicitor in place? I intend to finance via a mortgage with .
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. As you are getting a mortgage with , ask your prospective lawyers if they are on the conveyancing panel otherwise they can't do the mortgage legal work.
My offer was accepted on a house in West Kensington on , valuation was booked 3 days after, all came back fine. Solicitor appointed, so all that was missing was my mortgage offer. Having made daily calls to and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the conveyancing panel. Can the lender hold off the offer?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for to deal with your lawyer's application to be on the conveyancing panel. There's no guarantee that your solicitor will be accepted.
Are there restrictive covenants that are commonly picked up as part of conveyancing in West Kensington?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in West Kensington. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying my first flat in West Kensington benefiting from help to buy. The sellers refused to move on the amount so I negotiated £7000 of additionals instead. The sale representative advised me not disclose to my conveyancer about the extras as it will jeopardize my loan with . Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
How can the Landlord & Tenant Act 1954 affect my business property in West Kensington and how can your lawyers assist?
The particular law that you refer to affords security of tenure to commercial leaseholders, giving them the a statutory right to apply to court for a continuation of occupancy at the end of the lease term. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in West Kensington