Our conveyancer has identified a defect with the lease for the flat we are purchasing in Southmead. The seller’s lawyers have put forward defective title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancer has advised that he must be satisfied that the lender is content with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook provisions. 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.
Can I use your services to recommend a Conveyancing solicitor in Southmead even if I’m not buying or selling a house, for instance if I intend to buy a shop in Southmead with a loan from Britannia?
Our search tool is mainly utilised to locate residential conveyancing solicitors in Southmead but we have set out at the bottom of this page a selection of Southmead commercial conveyancing firms. You should enquire with the company directly to see if they can also act for Britannia
We hope to to buy with Loughborough BS. I visited a few high street practices but am unable to find a Southmead conveyancing firm on the Loughborough BS panel. Could you assist?
You should take advantage of the search tool on this site. Please choose the lender and type Southmead or your preferred area and you will see numerous solicitors located in Southmead or nearest you.
I note that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when acquiring a house in Southmead? or I am told that there is historic law that means some owners of property residing in a parish church boundary may be liable to pay for repairs to the chancel within the church. Is this a legitimate concern for conveyancing in Southmead?
Unless a prior acquisition of the property completed after 12 October 2013 you could take it that lawyers delivering conveyancing in Southmead to remain encouraging a chancel search and or insurance against a claim.
I have been on the look out for a flat up to £235,500 and identified one close by in Southmead I like with open areas and railway links nearby, the downside is that it's only got 49 years on the lease. I can't really find anything else in Southmead for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan that many years will likely be an issue. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
I am a fortnight into a leasehold purchase having been recommend to solicitors by the local agent to handle our conveyancing in Southmead. I am am extremely frustrated with the quality of service. Could you you assist me in finding new lawyers?
They would have to be very poor to suggest diss instructing them. Has the loan offer been issued? If so you will need to advise them of the new lawyer and ensure the mortgage documents are re-sent. Your new solicitor ideally should be on the banks approved list to avoid escalating expenses and frustration. So that should be your starting point. The search tool can assist you in finding a bank approved lawyer for your home move in Southmead