Our lawyer has identified a a legal deficiency with the lease for the apartment we are purchasing in Ledbury. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer says that he must check 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 potential for a conflict of interest, you and the lender are the client. Your solicitor 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 lawyer will have no choice but to discontinue acting for you.
At what point can the exchange of contracts occur in residential conveyancing in Ledbury and do I need to attend the solicitors branch?
Where you are round the corner to one of the conveyancing solicitors in Ledbury you are welcome to come in to sign contracts. That being said, the firms we recommend provide a nationwide conveyancing service and provide just as detailed and professional a job for you when dealing with you by post or email. The executing of the property agreement is not when everything is set in stone. A signed contract simply enables the conveyancer to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Ledbury)to be in the office at the appropriate time.
I am buying a garden flat in Ledbury. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Ledbury you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Ledbury.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Ledbury?
There are two types of lawyers who can perform conveyancing in Ledbury namely licenced conveyancers or solicitors. Both professionals handle the legal services that you need to complete the disposal or acquisition of property. They are both duty bound to execute Ledbury conveyancing to the same standards and guidelines so you may be safe in the knowledge that your conveyancing will be professionally conducted and that all requirements and steps will be correctly taken.
My stepmother pointed out to me me that in purchasing a property in Ledbury there could be various restrictions prohibiting external alterations to the property. Is this right?
There are a number of properties in Ledbury which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Ledbury should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My husband and I have arranged a further advance on our mortgage from Barclays as we wish to carry out a loft conversion to our property in Ledbury. Are we obliged to appoint a high street Ledbury solicitor on the Barclays conveyancing panel to handle the legals?
Barclays would not normally require a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays list.
Due to the encouragement of my in-laws I had a survey completed on a property in Ledbury prior to appointing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some lenders may refuse to issue a loan on a flying freehold property.
It varies from the lender to lender. Santander has different instructions for example to Halifax. If you e-mail us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Ledbury. Conveyancing will be smoother if you use a solicitor in Ledbury especially if they regularly deal with such properties in Ledbury.
My brother has recommend that I appoint his conveyancers in Ledbury. Should I choose my own solicitor?
No doubt it’s preferable to select a conveyancing practitioner is to seek recommendations from friends or family who have actually used the firm that you are considering.