Our solicitor has identified a defect with the lease for the apartment we are buying in Ouston. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor has advised that he must check that the lender is happy with this solution. Who is the client here, us or the lender?
Even though you have a mortgage offer from the lender does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. These conveyancing instructions must be adhered to.
My property lawyer in Ouston is not listed on the Virgin Money Approved Panel. Is it possible for me to continue with my family solicitor even though they are not on the Virgin Money approved list?
Your options are as follows:
- Complete the purchase with your existing Ouston solicitors but Virgin Money will need to retain a lawyer on their panel. This will result in additional overall conveyancing charges and cause delays.
- Find an alternative lawyer to act in the purchase, not forgetting to check they are Virgin Money approved.
- Persuade your Virgin Money solicitor to attempt to join the Virgin Money panel
Should our solicitor be raising enquiries about flooding as part of the conveyancing in Ouston.
Flooding is a growing risk for solicitors carrying out conveyancing in Ouston. There are those who acquire a property in Ouston, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, however there are a number of searches that may be carried out by the buyer or on a buyer’s behalf which can figure out the risks in Ouston. The conventional set of completed inquiry forms supplied to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the owner to discover if the premises has suffered from flooding. In the event that the premises has been flooded in past which is not revealed by the owner, then a purchaser may issue a legal claim for losses resulting from an inaccurate reply. The purchaser’s lawyers may also commission an environmental report. This will higlight whether there is any known flood risk. If so, further inquiries will need to be carried out.
Are there restrictive covenants that are commonly identified as part of conveyancing in Ouston?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Ouston. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
In searching the web for the words on line conveyancing in Ouston it shows results of numerous solicitorsin the area. How do I determine which is the right property lawyer for my move?
The best way of seeking a suitable conveyancer is through a trusted referral, so seek the guidance of friends and relatives who have bought a property in Ouston or a reputable estate agent or mortgage broker. Costs for conveyancing in Ouston differ, so it's advisable to secure at least three costs illustrations from different conveyancers. Make sure that you know that the charges are assured not to to be inflated.
Is there a difference between surveying and conveyancing in Ouston?
Conveyancing - in Ouston or anywhere in England and Wales - is the process of legally transferring legal title of property from one person to another. It involves the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are buying and will help you discover the condition of the building and, if there are problems, give you a powerful reason for negotiating the buying price down or asking the vendor to remedy the problems before you move in.