My solicitor has identified a a legal deficiency with the lease for the apartment we are purchasing in Watford. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer says that he must ensure that the lender is happy with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your conveyancer 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 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.
Can you clarify what the consequences are if my lawyer’s firm is expelled from the Leeds Building Society Solicitor panel ahead of completing my conveyancing in Watford?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
If you had a top tip for selecting a conveyancing solicitor in Watford what would it be?
We would encourage you not to go for the lowest Watford conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
How can we tell if a Watford conveyancing solicitor on the Co-operative panel is any good?
When it comes to conveyancing in Watford getting recommendations is a sensible 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 recommend that you speak with the lawyer carrying out your transaction.
I am currently in the process of buying my council flat in Watford. I have a mortgage offer with TSB. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
Just acquired a detached house in Watford , What is the estimated time for the Land Registry to deal with the formalities evidencing the transfer to my name? My Watford conveyancing solicitor has been very slow, so I want to check the registration is concluded.
There is nothing unique about conveyancing in Watford registration formalities. Rather than based on location, timescales can adjust subject to the party submitting the application, whether it is in order and whether the Land registry need to notify any third persons or bodies. As of today in the region of three quarters of submission are completed within 12 days but some can be subject to longer delays. Registration is effected once the buyer has moved in to the premises thus registration formalities is not always top priority but if it is urgent that the the registration takes place urgently then you or your solicitor could communicate with the Registry to express the reasoning for an expedited registration.
In my capacity as executor for the will of my grandmother I am selling a residence in Monmouth but I am based in Watford. My conveyancer (based 300 kilometers from meneeds me to execute a statutory declaration prior to the transaction finalising. Could you suggest a conveyancing lawyer in Watford to attest this legal document for me?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will be fine regardless of whether they are based in Watford
I today plan to offer on a house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Watford. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the risks of buying a leasehold house in Watford ?
Most houses in Watford are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Watford so you should seriously consider looking for a Watford conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your conveyancer will report to you on the legal implications.