My lawyer has identified a a legal deficiency with the lease for the apartment we are purchasing in Swiss Cottage. The other side have offered title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancing practitioner says that he must check that the mortgage company 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 solicitor must comply with the UK Finance Lenders’ Handbook specifications. 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 property lawyer will have no choice but to discontinue acting for you.
Are the Swiss Cottage conveyancing solicitors identified as being on the Bank of Ireland conveyancing panel, together with their details provided by Bank of Ireland?
Swiss Cottage conveyancing firms themselves provide us confirmation that they are on the Bank of Ireland conveyancing panel as opposed to being supplied with a list from Bank of Ireland directly.
Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Swiss Cottage. My lender is Bank of Ireland
Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 20/2/2021, the requirements read as follows :
I opted to have a survey carried out on a house in Swiss Cottage in advance of retaining conveyancers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some lenders will not give a mortgage on such a house.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. If you e-mail us we can look into this further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Swiss Cottage. Conveyancing will be smoother if you use a solicitor in Swiss Cottage especially if they regularly deal with such properties in Swiss Cottage.
My husband and I are 14 days into a residential purchase having been recommend to solicitors by the local agent to carry out the conveyancing in Swiss Cottage. I am am very frustrated with the level of service. Can you help me find new conveyancers?
They would have to be very poor to suggest replacing them. Has your mortgage offer been generated? If so you must advise them of the new contact details and have the offer are re-sent. Your conveyancer should be on the lenders panel to avoid escalating charges and frustration. So that should be your first question of the new solicitors. Our find a solicitor tool will help you find a bank approved solicitor for your conveyancing in Swiss Cottage
What are the distinct benefits to using a local conveyancing practitioner in Swiss Cottage
Home movers in Swiss Cottage opt for a local lawyer so that they can visit in the event that they have concerns, and to sign paperwork rather taking the chance of relying on the post.
One could argue that there exists a slight advantage when selecting a property lawyer nearby to a premises you are planning to purchase, due to the familiarity of the locality and potential local issues - nevertheless this is moot. Many conveyancers undertaking their communications over the web and could be anywhere in the world.