Our solicitor has uncovered a a legal deficiency with the lease for the flat we are buying in Essex. The seller’s lawyers have offered defective title insurance as a solution. We are content with insurance and will pay for it. Our lawyer has advised that he must ensure that the bank is happy 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 bank are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender 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.
When researching online forums for a high-quality solicitor in Essex, most post that I must use a CQS assured lawyer. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with best practice conveyancing procedures through the scheme protocol It includes many partnerships who execute conveyancing in Essex.
My wife and I purchasing a detached bungalow in Essex. Our aim is to carry out a loft conversion at the property.Will legal due diligence on the property include enquiries to determine if these works were previously refused?
Your conveyancer will review the deeds as conveyancing in Essex can occasionally reveal restrictions in the title deeds which restrict categories of works or require the permission of another owner. Some extensions call for local authority planning consent and approval in compliance with building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be wise to check these things with a surveyor ahead of any purchase.
Is it correct that all Essex CQS (Conveyancing Quality Scheme) solicitors are on the UBS conveyancing panel?
A selection of banks and building societies now use CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
Can I be sure that the Essex conveyancing solicitor on the Leeds Building Society panel is any good?
When it comes to conveyancing in Essex obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the lawyer handling your conveyancing.
My colleague recommended that if I am purchasing in Essex I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Essex conveyancing searches. It is not a small document of about 40 pages, listing and detailing significant information about Essex around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful information concerning Essex.
How does conveyancing in Essex differ for newly converted properties?
Most buyers of new build property in Essex come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Essex typically acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Essex or who has acted in the same development.
Is there a reason that Essex conveyancing charges are more expensive for leasehold and freehold properties?
Leasehold conveyancing in Essex will often involve additional work such as checking the lease, communicating with the freeholder, obtaining up to date rent receipts, landlord’s consents, management company’s accounts etc.