Our conveyancer has identified a defect with the lease for the apartment we are buying in Brantham. The seller’s lawyers have put forward defective title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer says that he must check that the bank is willing to move forward with this solution. Who is the client here, us or 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 lawyer must comply with the UK Finance Lenders’ Handbook conditions. 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 conveyancer will have no choice but to discontinue acting for you.
The Brantham conveyancing firm that just started acting on my house acquisition in Brantham have suddenly closed. I only went with them because I needed a lawyer on the Coventry BS conveyancing panel and my family Brantham lawyer was not. I issued them a cheque for two hundred pounds in advance. What do I do now?
If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Coventry BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
A friend recommended that if I am purchasing in Brantham I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Brantham conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Brantham around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Brantham Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Brantham Education with maps and statistics, Local Amenities and other useful data about Brantham.
How does conveyancing in Brantham differ for new build properties?
Most buyers of new build residence in Brantham come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because builders in Brantham tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Brantham or who has acted in the same development.
We are 17 days into a freehold purchase having been referred to solicitors by the high street agent to carry out the conveyancing in Brantham. I am am starting to be frustrated with the quality of service. Could you you assist me in finding new lawyers?
A lawyer would need to be very poor in order to consider replacing them. Has the loan offer been generated? In the event that it has you will need to make them aware of the new solicitor and have the loan are issued to the new lawyers. The solicitor ideally needs to be on the mortgage company panel to avoid added costs and complications. So that should be your starting point. The search tool can help you find a bank approved solicitor for your home move in Brantham