My lawyer has uncovered a defect with the lease for the apartment we are purchasing in Highcliffe. The seller’s lawyers have suggested defective title insurance as a solution. We are content with insurance and will pay for it. Our solicitor has advised that he must ensure that the lender is happy with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your 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 solicitor will have no choice but to discontinue acting for you.
My property lawyer in Highcliffe has never been on on the HSBC Bank Approved Panel. Can I still use my family solicitor notwithstanding that they are not on the HSBC Bank approved list?
Your options are as follows:
- Complete the purchase with your preferred Highcliffe solicitors but HSBC Bank will need to retain a lawyer on their list of acceptable firms. This will result in additional overall legal charges and cause frustration.
- Get an alternative lawyer to act in the conveyancing, obviously checking they are Persuade your lawyer to use their best endeavours to join the HSBC Bank conveyancing panel
I have justbecome aware that Wolstenholmes have closed. They carried out my conveyancing in Highcliffe for a purchase of a freehold house 12 months ago. How can I be sure that the property is not still registered in the name of the previous owner?
The quickest method to see if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Highcliffe conveyancing specialists.
How does conveyancing in Highcliffe differ for new build properties?
Most buyers of new build premises in Highcliffe approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is finished. This is because house builders in Highcliffe typically acquire the real estate, 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 property lawyers 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 used to new build conveyancing in Highcliffe or who has acted in the same development.
Am I best advised to go with a Highcliffe conveyancing lawyer in close proximity to the house I am purchasing? I have an old university friend who can deal with the legal formalities however they are based 400miles drive away.
The benefit of a high street Highcliffe conveyancing practice is that you can attend the office to sign paperwork, deliver your identification documents and apply pressure on them if necessary. They will also have local intelligence which is a plus. That being said it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and in the main were impressed that should outweigh using an unknown Highcliffe conveyancing solicitor solely due to them being Highcliffe based.
Been reading online that Highcliffe solicitors are more expensive than Highcliffe conveyancers in Highcliffe to use when purchasing a property. Am I better off using a conveyancer or a solicitor if I am purchasing a house in Highcliffe.
When it comes to conveyancing in Highcliffe the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.