My solicitor has uncovered a defect with the lease for the property we are purchasing in Barnes. The seller’s lawyers have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer says that he must be satisfied that the mortgage company 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 property lawyer must comply with the UK Finance Lenders’ Handbook conditions. 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 property lawyer will have no choice but to discontinue acting for you.
Is there a reason why leasehold purchase conveyancing in Barnes costs more?
Barnes leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Various web forums that I have visited warn that are a common reason for obstruction in Barnes house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Barnes.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a quick, chain free conveyancing. Barnes is where the house is located. Can you offer any opinion?
Flying freeholds in Barnes are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Barnes you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Barnes may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am looking to sell my home. My past lawyers closed down. I am in need of a recommendation of a conveyancing firm. I happen to live in Barnes if that makes things easier.
Please use our search tool to help you find a solicitor for your conveyancing in Barnes. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
In my capacity as executor for the will of my father I am disposing of a property in Swansea but live in Barnes. My lawyer (who is 235 kilometers from merequires that I execute a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing practitioner in Barnes who can witness and place their company stamp on the document?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are located in Barnes