I selected a Braunton based solicitor for my conveyancing in Braunton last week. Reviewing the Ts and Cs I noteI am on the hook for charges even if the sale aborts. Should I go with them or use an internet conveyancing brokerage advertising no completion no cost conveyancing in Braunton?
It is usually ‘give and take’ in that if "No Completion No Fee" is offered then the conveyancing charges will generally be higher to offset those cases that do not proceed. Do bear in mind that these offerings generally do not cover expenses such as Braunton conveyancing search costs.
Our solicitor has discovered a defect with the lease for the property we are buying in Braunton. The other side have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our property lawyer says that he must check that the bank is willing to move forward with this solution. Who is the client here, us or the bank?
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 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 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.
Should our conveyancer be raising questions about flooding during the conveyancing in Braunton.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Braunton. There are those who buy a property in Braunton, completely aware that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, but there are a various checks that may be undertaken by the purchaser or by their lawyers which will figure out the risks in Braunton. The standard information given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the vendor to discover whether the property has historically flooded. In the event that the property has been flooded in past which is not revealed by the seller, then a buyer may issue a compensation claim as a result of such an inaccurate reply. A buyer’s lawyers should also conduct an enviro report. This will higlight whether there is any known flood risk. If so, more detailed investigations will need to be conducted.
About to purchase a new build flat in Braunton. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Braunton
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
In my capacity as executor for the will of my uncle I am disposing of a house in Cardiff but live in Braunton. My lawyer (who is 260 miles from merequires that I execute a statutory declaration before completion. Could you suggest a conveyancing lawyer in Braunton to witness and place their company stamp on the document?
Technically speaking you are not likely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are Braunton based
My son is about to join the property ladder, the home loan was agreed last week in principle. One the seller agreed the offer on the flat we called the building society to issue the formal offer. I was shocked to hear that mortgage lenders do not accept all lawyer, they need to be on their approved list, is this correct?
Lenders ordinarily restrict either the type or the number of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Braunton conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.