Our solicitor has uncovered a a legal deficiency with the lease for the apartment we are buying in Benfleet. The other side have suggested title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must be satisfied that the bank is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. These conveyancing instructions have to be complied with.
There are a variety of conveyancing solicitors in Benfleet but how do I know who I should use?
Do not opt for the lowest Benfleet conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. 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.
Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in Benfleet. Do I collect the keys to the premises on completion from my conveyancer? If this is the case, I will appoint a High Street conveyancing solicitor in Benfleet?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the seller's solicitors, and once they have received this, you should be called to collect the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.
We expect to receive a OIP from UBS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do UBS recommend any Benfleet solicitors on the UBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Benfleet solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
Various online forums that I have visited warn that are the main cause of hinderance in Benfleet conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Benfleet.
I opted to have a survey completed on a property in Benfleet ahead of appointing solicitors. I have been told that there is a flying freehold overhang to the house. Our surveyor has said that some lenders tend refuse to issue a mortgage on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Benfleet. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Benfleet to see if the conveyancing will be more expensive.
Why can I not complete our conveyancing in Benfleet on May bank holiday?
Because on completion the funds will pass between the banks of the purchaser and owner’s conveyancer and currently this can only take place on a working day. So you can't complete on a weekend either.