My solicitor has discovered a a problem with the lease for the flat we are purchasing in Stratford Upon Avon. The other side have put forward defective title insurance as a workaround. We are content with insurance and will cover the costs. Our property lawyer has advised that he must check that the lender is willing to move forward with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions. 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 solicitor will have no choice but to discontinue acting for you.
Will our conveyancer be making enquiries about flooding as part of the conveyancing in Stratford Upon Avon.
Flooding is a growing risk for lawyers carrying out conveyancing in Stratford Upon Avon. There are those who acquire a house in Stratford Upon Avon, fully aware that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, however there are a number of checks that may be undertaken by the purchaser or by their solicitors which should figure out the risks in Stratford Upon Avon. The conventional set of information given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the seller to find out whether the premises has historically flooded. In the event that flooding has previously occurred and is not revealed by the vendor, then a buyer may bring a legal claim for losses as a result of such an misleading response. A buyer’s lawyers should also conduct an environmental report. This should indicate if there is a recorded flood risk. If so, additional inquiries should be initiated.
Despite weeks of looking the Title Certificate and documents to my house are lost. The solicitors who handled the conveyancing in Stratford Upon Avon 4 years ago have long since closed. What do I do?
You no longer need to hold title deeds to establish that you are the registered proprietor of land or property, given that the Land Registry hold details of all registered land or property electronically.
Taking into account that I am about to spend over three hundred thousand on a property in Stratford Upon Avon I would like to talk to a lawyer concerning thehome move before giving the go ahead to the firm. Can this be arranged?
This is something that we encourage - it is our preference to talk to you we do not take any clients on without you speaking to the conveyancer due to be carrying out your property ownership legalities in Stratford Upon Avon.There is no ‘factory style conveyancing’ - every client is an important individual, not a case number. The solicitors that we put you in touch with believe that the fees you are provided with for your conveyancing in Stratford Upon Avon should be the figure that you are charged.
Why do Stratford Upon Avon conveyancing costs are higher for leasehold and freehold properties?
There is always more work required for leasehold conveyancing. Stratford Upon Avon has many leasehold properties. There is more time involved in the purchase: for example, the lease and leasehold information (including up to date service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.