My lawyer has discovered a a legal deficiency with the lease for the flat we are purchasing in Hoylake. The other side have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancing practitioner has advised that he must ensure that the bank is willing to move forward 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 mortgage company are the client. Your property 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 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 conveyancing practitioner will have no choice but to discontinue acting for you.
Completed the sale of my flat in Hoylake last December but my buyer keeps calling me to say their conveyancer needs to hear from mine. What should my lawyer have done now that I have sold?
Following your sale your solicitor is duty bound to deliver the transfer deeds and all additional paperwork to the purchaser's conveyancer. If applicable, your solicitor must also confirm that the mortgage has been repaid to the purchasers solicitors. There is unlikely to be post completion tasks unique to conveyancing in Hoylake.
My mortgage company has suggested a law firm on their panel based in Hoylake but I would rather use a conveyancing lawyer in Hoylake or nearer to where I live. Are you able to help?
It is by no means the case that all Hoylake conveyancing solicitors are approved and listed on all lender’s conveyancing panel. Do make use of the above find an approved solicitor tool to locate a Hoylake conveyancing firm on the on the mortgage company panel.
It has been five months following my purchase conveyancing in Hoylake completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does the Landlord & Tenant Act 1954 affect my commercial property in Hoylake and how can your lawyers assist?
The 1954 Act affords security of tenure to commercial tenants, granting the legal entitlement to make a request to court for a continuation of occupancy when the lease reaches an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and help with commercial conveyancing in Hoylake
Me and my partner are soon to exchange on the purchase a house in Hoylake but as a consequence of damage from the recent storms I have negotiated recompense from the vendor of £3k taking the form of a reduction in the price. I had intended this to be addressed as part of the conveyancing process but my mortgage company will not permit this. Should they have been notified?
The lawyer listed on the bank approved list is duty bound to inform the lender of any changes to the purchase figure. In the event that you did not allow your conveyancing practitioner to disclose the reduction to your mortgage company then they would need to discontinue acting for you and the mortgage company.