My conveyancer has discovered a a legal deficiency with the lease for the property we are purchasing in St Columb. The other side have offered title insurance as a solution. We are content with insurance and will pay for it. Our property lawyer has advised that he must check that the lender is content 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 lender 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 lawyer will have no choice but to discontinue acting for you.
We note that you have a post code search directory identifying solicitors on the Nationwide conveyancing panel. Do firms pay you a referral fee if I retain them for our conveyancing in St Columb?
We are a listing service only for law firms wishing to communicate if they are on the Nationwide conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in St Columb.
Should commercial conveyancing searches disclose impending roadworks that could affect a commercial property in St Columb?
Its becoming the norm that commercial conveyancing solicitors in St Columb will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in St Columb. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in St Columb.
For each commercial conveyancing transaction in St Columb it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to St Columb commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in St Columb.
Have purchased a a terraced house in St Columb , What is the estimated time for the Land Registry to register the transfer to my name? My St Columb conveyancing solicitor works at snail pace, so I want to check that my ownership is registered.
There is nothing unique when it comes to conveyancing in St Columb registration formalities. As opposed to being determined by geographic area, timescales can differ according to who lodges the application, whether there are errors and whether the Land registry must send notices to any 3rd persons or bodies. As of today approximately three quarters of submission are fully dealt with in less than three weeks but occasionally there can be extensive delays. Registration takes place once the buyer is living at the premises thus 'speed' is not always an essential issue but where there is a degree of urgency associated with the registration then you or your conveyancer must speak with the land registry and explain the circumstances.
I'm buying my first flat in St Columb benefiting from help to buy. The builders refused to reduce the price so I negotiated 6k of additionals instead. The house builders rep told me not inform my lawyer about this side-deal as it would adversely affect my loan with Accord Mortgages Ltd. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What are your top tips when it comes to appointing a St Columb conveyancing firm to deal with our lease extension?
If you are instructing a property lawyer for lease extension works (regardless if they are a St Columb conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you talk with two or three firms including non St Columb conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be useful:
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Can they put you in touch with clients in St Columb who can give a testimonial? What volume of lease extensions have they conducted in St Columb in the last 12 months?
I bought a 1 bedroom flat in St Columb, conveyancing was carried out in 2009. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in St Columb with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 per annum. The lease ceases on 21st October 2104
With only 80 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.