Our lawyer has uncovered a defect with the lease for the property we are buying in West Kensington. The seller’s lawyers have offered title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer says that he must check that the bank is content with this solution. Who is the client here, us or the bank?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the bank are the client. These conveyancing instructions must be adhered to.
Completed the sale of my flat in West Kensington last August yet the purchaser is e-mailing me complaining that his conveyancer needs to hear from mine. What are the post completion sale legalities following completion?
Following your sale your lawyer is duty bound to deliver the transfer documentation and all of the paperwork to the purchaser's solicitors. Where appropriate, your conveyancer must also send confirmation that the mortgage has been paid off to the buyers lawyers. There are no post completion formalities unique to conveyancing in West Kensington.
It has been 3 months since my purchase conveyancing in West Kensington took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I opted to have a survey carried out on a property in West Kensington ahead of retaining solicitors. I have been advised that there is a flying freehold element to the house. The surveyor has said that some banks tend refuse to give a mortgage on a flying freehold premises.
It depends who your proposed lender is. Santander has different instructions from Birmingham Midshires. If you contact us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in West Kensington. Conveyancing may be slightly more expensive based on your lender's requirements.
My boyfriend is buying a shared ownership flat in West Kensington. He has received a fee estimate by the property lawyer connected to the estate agents and it came to £1156 . It was seven years ago I sold and bought a home and the fee was £450. Have costs really gone up that much?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for example West Kensington searches, land registry fees, etc)