My lawyer has uncovered a defect with the lease for the flat we are buying in Acton. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer says that he must check that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your conveyancing practitioner 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 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 conveyancer will have no choice but to discontinue acting for you.
Are the Acton conveyancing solicitors identified as being on the Kent Reliance conveyancing panel, together with their details provided by Kent Reliance?
Acton conveyancing firms themselves provide us confirmation that they are on the Kent Reliance conveyancing panel as opposed to being supplied with a list from Kent Reliance directly.
My wife and I own a semi-detached Victorian house in Acton. Conveyancing lawyer acted for me and Norwich and Peterborough Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the exact same property. Is it worth asking Norwich and Peterborough Building Society to clarify?
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 Acton 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 mortgage companies. You can also question the position with your conveyancing lawyer who conducted the purchase.
I am purchasing a new build house in Acton with the aid of help to buy. The builders refused to reduce the amount so I negotiated £7000 of additionals instead. The estate agent advised me not reveal to my conveyancer about this deal as it could adversely affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the advice of my in-laws I had a survey completed on a property in Acton prior to appointing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some lenders will refuse to give a mortgage on this type of property.
It varies from the lender to lender. Santander has different instructions for example to Nationwide. If you contact us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Acton. Conveyancing will be smoother if you use a solicitor in Acton especially if they are acquainted with such properties in Acton.
We are one month into a freehold purchase having been referred to solicitors by the selling agent to execute conveyancing in Acton. I am not happy. Can you you assist me in finding new solicitors?
They would have to be very poor to suggest changing them. Has the mortgage offer been generated? In the event that it has you need to inform them of the new contact details and have the mortgage documents are re-issued. Your new solicitor ideally needs to be on the lenders panel to avoid supplemental charges and frustration. That should be your first question of the new conveyancers. The find a solicitor tool will help you find a bank approved solicitor for your home move in Acton