Our lawyer has identified a a problem with the lease for the property we are buying in Blagdon. The other side have offered title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancer has advised that he must be satisfied that the bank is happy with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender 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.
Are the BSA intent on creating a search tool with a view to to identify law firms on the Norwich and Peterborough Building Society conveyancing panel for instance in Blagdon?
We are not aware of any plans on the part of the BSA to develop such a search facility.
I have been told that property searches are a common reason for delay in Blagdon house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of slowing down conveyancing in Blagdon.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a straight forward, chain free conveyancing. Blagdon is the location of the property. What do you suggest?
Flying freeholds in Blagdon are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Blagdon you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Blagdon may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I need to instruct a conveyancing solicitor in Blagdon for my sale. Can I check a solicitor's complaints history with the profession’s regulator?
Anyone may review presented Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Go to Check a solicitor's record. For details about the period before 1 January 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The regulator may monitor call for training reasons.