My solicitor has identified a a legal deficiency with the lease for the property we are buying in Aston Clinton. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancer says that he must check that the bank is content 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 bank are the client. Your lawyer 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 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 lawyer will have no choice but to discontinue acting for you.
We note that you have a search directory listing solicitors on the Nationwide conveyancing panel. Do firms pay you a commission if I appoint them for our own conveyancing in Aston Clinton?
We are a listing service only for law firms wishing to communicate if they are on the Nationwide conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Aston Clinton.
How does conveyancing in Aston Clinton differ for newly converted properties?
Most buyers of new build property in Aston Clinton approach us having been asked by the developer to sign contracts and commit to the purchase even before the residence is built. This is because developers in Aston Clinton usually acquire the land, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Aston Clinton or who has acted in the same development.
I am selling my property. My former conveyancers closed down. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Aston Clinton if that affects matters.
You should use our search tool to help you find a solicitor for your conveyancing in Aston Clinton. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
Having had my offer accepted I require leasehold conveyancing in Aston Clinton. Before I set the wheels in motion I would like to find out the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Aston Clinton - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Aston Clinton Leasehold Conveyancing - A selection of Questions you should ask Prior to Purchasing
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Best to be warned whether redecorating or some other major work is coming up to be shared amongst the leasehold owners and could well materially impact the level of the maintenance charges or require a one time payment. How long is the Lease? It would be prudent to discover as much as possible concerning the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to every day matters such as the upkeep of the common parts. Enquire of prospective neighbours what they think of them. In conclusion, investigate as to the dates that the maintenance charges are due to the managing agents and precisely how they are spending the funds.
Do online conveyancing organisations cover everything a high street Aston Clinton solicitor does or do I still need to use a solicitor for the final stages for my conveyancing in Aston Clinton?
If you use an online conveyancer they should cover all the tasks your Aston Clinton solicitor would cover.