Our solicitor has identified a a problem with the lease for the apartment we are buying in Bourton on the Water. The other side have suggested title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancer has advised that he must be satisfied that the lender is content with this solution. Who is the client here, us or the mortgage company ?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the mortgage company are the client. These conveyancing instructions must be adhered to.
Completed the sale of my flat in Bourton on the Water last February but my buyer keeps whats apping me to moan that her solicitor needs to hear from mine. What are the post completion sale formalities following completion?
After completion of your house sale your lawyer should deliver the transfer deeds and all supplemental paperwork to the buyer’s lawyers. Where appropriate, your lawyer should also send confirmation that the mortgage has been redeemed to the purchasers solicitors. There is unlikely to be post completion tasks peculiar conveyancing in Bourton on the Water.
The Bourton on the Water conveyancing lawyers that I recently instructed on my house acquisition in Bourton on the Water have without warning closed. I chose them because I had to have a lawyer on the Kent Reliance conveyancing panel and my family Bourton on the Water lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Kent Reliance conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
I am planning on selling our property in Bourton on the Water and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any high street Bourton on the Water conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers used a national conveyancing outfit as opposed to a conveyancing solicitor in Bourton on the Water. Having lived in Bourton on the Water for many years we know of no issue. Should we get in touch with our local Authority to get confirmation need.
It would appear that you have a conveyancing lawyer currently acting for you. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one round the corner in Bourton on the Water I like with a park and railway links in the vicinity, however it's only got 51 years unexpired on the lease. There is not much else in Bourton on the Water suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
I am thinking of appointing a conveyancing lawyer in Bourton on the Water for my house move. Can I see a solicitor's record with the legal regulator?
Anyone may review documented Solicitor Regulator Association (SRA) determinations resulting from inquisitions from 2008 onwards. Visit Check a solicitor's record. For details Pre 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The regulator sometimes recorded telephone calls for training reasons.