My lawyer has identified a defect with the lease for the flat we are buying in Staffordshire. The other side have suggested title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancing practitioner says that he must check 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 potential for a conflict of interest, you and the bank are the client. Your solicitor 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 bank 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.
When reading consumer advice sites for an affordable solicitor in Staffordshire, many say that I should use a CQS assured solicitor. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to best practice conveyancing procedures through the scheme protocol the standard includes many organisations who perform conveyancing in Staffordshire.
What is the difference between a licensed conveyancer and conveyancing solicitor in Staffordshire
There are two types of lawyers who can perform conveyancing in Staffordshire namely licenced conveyancers or solicitors. The two can handle the legal services that required to complete the disposal or acquisition of property. They are both obliged to perform Staffordshire conveyancing to the same standards and guidelines so you may be safe in the knowledge that your conveyancing will be properly administered and that all requirements and steps will be appropriately attended to.
How can we tell if a Staffordshire conveyancing solicitor on the Kent Reliance panel is any good?
When it comes to conveyancing in Staffordshire seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor conducting your conveyancing.
I have instructed a Staffordshire property lawyer having made sure that they are on the Kent Reliance conveyancing panel. Does my lawyer arrange the survey of the property?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Staffordshire postcode. As you are getting a mortgage with Kent Reliance, you could contact them to see if they have a list of approved surveyors in Staffordshire.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Staffordshire is where the house is located. Can you shed any light on this issue?
Flying freeholds in Staffordshire are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Staffordshire you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Staffordshire may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My father has encouraged me to instruct his conveyancers in Staffordshire. Should I find my own solicitor?
Much as we are happy to recommend a Staffordshire conveyancing lawyer the ideal way to select a conveyancing practitioner is to get feedback from friends or relatives who have previously instructed the conveyancer you're contemplating using.
What are your top tips when it comes to finding a Staffordshire conveyancing firm to carry out our lease extension conveyancing?
When appointing a conveyancer for your lease extension (regardless if they are a Staffordshire conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Staffordshire conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be helpful:
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If they are not ALEP accredited then why not? Can they put you in touch with clients in Staffordshire who can give a testimonial?
I purchased a 1st floor flat in Staffordshire, conveyancing was carried out in 2009. How much will my lease extension cost? Comparable flats in Staffordshire with over 90 years remaining are worth £195,000. The ground rent is £45 invoiced annually. The lease finishes on 21st October 2089
With just 63 years left to run we estimate the premium for your lease extension to be between £16,200 and £18,600 as well as legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.