Our lawyer has uncovered a defect with the lease for the apartment we are purchasing in Ottery St Mary. The seller’s lawyers have put forward title insurance as a solution. We are happy with insurance and will pay for it. Our property lawyer says that he must be satisfied that the bank is happy with this solution. Are we the client or is the bank?
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 solicitor 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 conveyancing practitioner will have no choice but to discontinue acting for you.
Should conveyancers ask for money on account for my conveyancing in Ottery St Mary?
Where you are retaining lawyers for conveyancing in Ottery St Mary your solicitor will request that you put them with monies to cover the search fees. Ordinarily this is requested to cover the fees of the Local Authority Search. If any deposit is as part of the total price then this should be required immediately ahead of contracts are exchanged. Any further balance that is needed should be sent to your lawyer a few days ahead of the completion date.
We previously instructed conveyancers with offices in Ottery St Mary on the Co-operative solicitor panel. They are now charging me a separate charge for handling the Co-operative mortgage. Is this a supplemental conveyancing fee set by Co-operative?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your property lawyer can charge a fee for this. The charge is not set by Co-operative but by your Ottery St Mary conveyancing practitioner. Plenty of firms on the Co-operative panel will quote an ‘acting for lender’ fee and others do not.
My partner and I have organised a further advance on our mortgage from Principality as we want to conduct renovations to our house in Ottery St Mary. Do we need to select a high street Ottery St Mary solicitor on the Principality conveyancing panel to deal with the legals?
Principality do not ordinarily appoint firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality panel.
I am selling my house. I had a double glazing fitted in June 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Co-operative are being difficult. The Ottery St Mary solicitor who is on the Co-operative conveyancing panel is recommending indemnity insurance as a solution but Co-operative are requiring a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My partner has encouraged me to use his conveyancing solicitors in Ottery St Mary. Should I use them?
No doubt the best way to find a conveyancing lawyer is to seek recommendations from friends or relatives who have actually experience in using the solicitor that you are are thinking of instructing.
Been on the hunt for a conveyancer for leasehold sale conveyancing in Ottery St Mary. I'm selling, simple no mortgage to discharge, no hurry, no onward chain. Had an estimate from a conveyancer for £1000 plus VAT which is a tad expensive given that its so straightforward. Can I pay less for conveyancing in Ottery St Mary?
As it’s a sale only, 475 + VAT would be about the best for sale conveyancing in Ottery St Mary.