My solicitor has identified a a problem with the lease for the apartment we are buying in Victoria Docks. The other side have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor says that he must check that the bank is content 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 lender are the client. Your lawyer 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 mortgage company 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.
As someone unfamiliar with conveyancing in Victoria Docks what’s the number one tip you can impart concerning the legal transfer of property in Victoria Docks
Not many law firms shout this from the rooftops but conveyancing in Victoria Docks or throughout London is an adversarial experience. Put another way, when it comes to conveyancing there exists lots of room for conflict between you and other parties involved in the ownership transfer. For instance, the vendor, estate agent and on occasion your bank. Appointing a law firm for your conveyancing in Victoria Docks is a critical decision as your conveyancer is your adviser, and is the ONE person in the legal process whose responsibility is to act in your legal interests and to protect you.
On occasion a third party with a vested interest will attempt to sway you that it is in your interests to do things their way. For instance, the estate agent may claim to be helping by suggesting your lawyer is wrong. Or your mortgage broker may try to convince you to do something that is against your lawyers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
My wife and I have recently appointed a conveyancing solicitor in Victoria Docks. I I would like to check if they are on the Leeds Building Society conveyancing panel. Could you advise?
You should contact your conveyancer and ask them whether they can act for the lender. Alternatively you should get in touch with Leeds Building Society who may be able to help.
I am purchasing a house and the conveyancer has identified Chancel Repair to which the property may be liable given it’s proximity to the area of such a church. She has mentioned insurance. Is this really required for conveyancing in Victoria Docks
Unless a previous purchase of the property took place post 12 October 2013 you may expect lawyers handling conveyancing in Victoria Docks to remain recommending a chancel search and or insurance against a claim.
I own a terraced Victorian property in Victoria Docks. Conveyancing solicitor represented me and Santander. I did a free Land Registry search last week and there are two entries: the first freehold, the second leasehold with the exact same property. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Victoria Docks and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with the conveyancing lawyer who conducted the work.