Our solicitor has discovered a a problem with the lease for the apartment we are buying in Osterley. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor says that he must check that the bank is content with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company 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 lender 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.
How up to date is your search tool for Osterley conveyancing solicitors on the TSB conveyancing panel? Do TSB send you an updated list?
Osterley conveyancing firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
My brother-in-law has suggested I instruct a conveyancing solicitor in Osterley. I need to find out whether they are on the Yorkshire Building Society approved list of lawyers. Could you assist?
The first thing to do is e-mail your lawyer and enquire if they can act for the lender. Otherwise you should get in touch with Yorkshire Building Society who may be able to confirm.
Just had an offer accepted on a new build apartment in Osterley. Conveyancing is necessary evil 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 selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Osterley
If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. Please confirm the Lease plans are architect prepared.
What is different about your site and other online quote calculators when it comes to conveyancing in Osterley?
At this site obtain a conveyancing costs illustration via a Solicitor or Licensed Conveyancer that understands the issues for your conveyancing in Osterley. As opposed to estate agents and many comparison sites we do not charge firms a commission if you appoint them for your home move in Osterley
My wife and I have just become aware that one of the partners of the law firm undertaking the purchase conveyancing in Osterley is an uncle of the seller. Is this acceptable?
Provided no conflict arises this is allowable. If you are requiring mortgage finance then the lender may have a say as many mortgage companies have specific instructions concerning this. For example for Bradford & Bingley as of 20/1/2022, the requirements read as follows :