Our conveyancer has identified a a problem with the lease for the apartment we are purchasing in Perranporth. The other side have offered title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancer has advised that he must check that the mortgage company is happy with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements. 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 lawyer will have no choice but to discontinue acting for you.
The Perranporth conveyancing solicitors that just started acting on my purchase in Perranporth have without warning closed. I chose them because I had to have a lawyer on the Kent Reliance conveyancing panel and my preferred Perranporth lawyer was not. I issued them a cheque for £250 in advance. What are my options?
If you have an estate agent involved then let them know straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Kent Reliance conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
Is it necessary to pay for insurance to cover chancel repairs when purchasing a property in Perranporth?
Unless a prior purchase of the house completed post 12 October 2013 you may assume that solicitors handling conveyancing in Perranporth to remain encouraging a chancel search and or chancel repair liability policy.
Am I better off to choose a Perranporth conveyancing lawyer based in the vicinity that I am hoping to buy? An old friend can perform the legal formalities however her office is approximately 350miles drive away.
The primary upside of using a high street Perranporth conveyancing practice is that you can drop in to sign documents, deliver your ID and pester them where appropriate. Having local Perranporth know how is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and the majority were happy that must surpass using an unknown Perranporth conveyancing solicitor just because they are round the corner.
I pay a maintenance contribution for my property in Perranporth. Due to redundancy and personal issues I fell into arrears with payments. I negotiated a clearance plan but there remains about £2000 currently outstanding.
I now wish to sell and I am nervous that this can hold me back if I have to discharge the amount due in advance. I'd like to sell up and subsequently pay them back with the proceeds - is this possible?
Do speak with the solicitor conducting your Perranporth conveyancing but it might be possible to agree for the arrears to be passed to the purchasers. The purchase price they pay would be reduced to reflect the amount of debt they assume. They could then pay the arrears once they are the owners.