My conveyancer has uncovered a a problem with the lease for the flat we are buying in Aintree. The seller’s lawyers have put forward title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor has advised that he must ensure that the lender is willing to move forward with this solution. Who is the client here, us or 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 conveyancer 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 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 conveyancer will have no choice but to discontinue acting for you.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Aintree. My lender is Bank of Ireland
Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 25/7/2024, the requirements read as follows :
My bid for a property was accepted at auction in Aintree. Conveyancing is needed. What is next?
Given that you are now exchanged you will need to choose a conveyancing practitioner as a matter of priority as you now have a pending a fixed date to complete the deal. All auction property should have an associated auction set of papers. This will likely include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the legal pack may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You must pass this on to the lawyer working for you at the earliest opportunity. You also need to ensure that you have funds in place to complete on the date specified in the contract.
I am being told by my solicitor that lack of right of way insurance is required on my purchase. What is the level of cover for Aintree conveyancing?
The appropriate level of lack of right of way indemnity insurance depends on your lender. It would differ for example between Accord Mortgages Ltd and Leeds Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
My husband and I are in the process of looking at apartments in Aintree and I am about to put in an offer. Should I already have a conveyancing practitioner appointed at this point? I will be getting a home loan with Coventry BS.
You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. As you are taking out a mortgage with Coventry BS, make sure you remember to check that your lawyer is on the Coventry BS conveyancing panel.
I am purchasing a new build house in Aintree benefiting from help to buy. The sellers refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not inform my solicitor about this deal as it could put at risk my loan with TSB. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
As co-executor for the estate of my grandmother I am selling a property in Monmouth but I am based in Aintree. My lawyer (who is 200 kilometers from mehas requested that I sign a statutory declaration before completion. Can you recommend a conveyancing practitioner in Aintree who can witness this legal document for me?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will suffice regardless of whether they are Aintree based
Should I cancel my mortgage payments with Nottingham once a completion date for my sale in Aintree has been set?
You would be well advised to maintain meeting any mortgage payments to Nottingham pending the mortgage being discharged on completion as part of your Aintree conveyancing.