Our lawyer has discovered a a legal deficiency with the lease for the apartment we are buying in Westminster. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor says that he must check that the bank 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 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 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.
Should conveyancers request an advanced payment for conveyancing in Westminster?
If you are buying a property in Westminster your lawyer will ask you to provide them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any down payment is payable against the total price then this should be asked for shortly ahead of exchange of contracts. Any further balance that is needed should be transferred a couple of days prior to the completion date.
Will our solicitor be making enquiries regarding flooding as part of the conveyancing in Westminster.
The risk of flooding is if increasing concern for lawyers dealing with homes in Westminster. There are those who acquire a property in Westminster, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, however there are a various checks that can be carried out by the purchaser or by their lawyers which can give them a better appreciation of the risks in Westminster. The conventional set of information given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the seller to find out if the property has suffered from flooding. If the residence has been flooded in past which is not revealed by the vendor, then a purchaser may issue a claim for damages as a result of such an inaccurate answer. The buyer’s conveyancers will also carry out an environmental report. This will reveal if there is any known flood risk. If so, more detailed investigations should be carried out.
I moved into my apartment on 11 October and the transaction details is yet to be registered. Need I be worried? My conveyancing solicitor in Westminster expressed confidence that it should be registered in a couple of weeks. Are properties in Westminster uniquely lengthy to register?
There is nothing unique about conveyancing in Westminster registration formalities. Rather than based on location, timeframes can adjust according to who lodges the application, whether it is in order and whether the Land registry must send notices to any interested persons or bodies. As of today approximately three quarters of such applications are fully dealt with within 12 days but occasionally there can be longer delays. Registration is effected after the purchaser is living at the property therefore an expedited registration is not typically top priority yet where there is a degree of urgency associated with the registration then you or your solicitor could speak with the land registry and explain the circumstances.
I am looking to sell my house. My previous conveyancers closed down. It would be helpful to have a recommendation of a conveyancing firm. Im based in Westminster if that makes things easier.
You should use our search tool to help you find a solicitor for your conveyancing in Westminster. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
My husband and I are 3 weeks into a freehold purchase having been recommend to a firm by the estate agent to do our conveyancing in Westminster. I am am starting to be frustrated with the level of service. Can you you assist me in finding new solicitors?
They would need to be really bad in order to consider diss instructing them. Has your mortgage offer been generated? If so you need to make them aware of the new contact details and have the mortgage documents are re-issued. The solicitor ideally should be on the banks approved list to avoid escalating fees and frustration. That should be your starting point. Our search tool can assist you in finding a bank approved lawyer for your conveyancing in Westminster