My solicitor has discovered a defect with the lease for the property we are purchasing in Anlaby. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer says that he must check that the mortgage company is happy with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the bank are the client. The appropriate lender conditions must be adhered to.
My grandmother passed away six months ago and as sole heir and executor I was left the house in Anlaby. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Lloyds, pay off the mortgage. Is this allowed?
Given you plan to re-mortgage then Lloyds will require that you use a conveyancer on the Lloyds conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Lloyds conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Lloyds mortgage is registered as a charge at the Land Registry.
I had a mortgage agreed in principle with Leeds Building Society. Anlaby conveyancing solicitors were instructed. What is the average time that one could expect to receive a mortgage offer from Leeds Building Society?
There is no definitive answer here. Have Leeds Building Society done the valuation? Have you advised Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I can not work out if my bank requires a lease extension. I have telephoned my Anlaby bank branch on a couple of occasions and was told they are content with the situation and they would lend. My Anlaby conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your property lawyer has to comply with the CML Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
My offer was accepted on a property in Anlaby on 22/7/2024, valuation was booked five days later, all came back fine. Conveyancer retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Santander and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Santander conveyancing panel. Are Santander entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Santander to deal with your lawyer's application to be on the Santander conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in Anlaby differ for newly converted properties?
Most buyers of new build property in Anlaby come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is constructed. This is because builders in Anlaby typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Anlaby or who has acted in the same development.
I decided to have a survey done on a house in Anlaby ahead of instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some lenders tend refuse to issue a mortgage on this type of home.
It varies from the lender to lender. Lloyds has different requirements from Halifax. If you e-mail us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Anlaby. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Anlaby to see if the conveyancing will be more expensive.
We're first time buyers - had an offer accepted, but the property agent has warned us that the owners will only issue a contract if we use the agent's chosen lawyers as they want an ‘expedited deal’. We would rather use a family conveyancer with experience of conveyancing in Anlaby
It is unlikely the sellers are driving this. If they want ‘a quick sale', turning down a motivated buyer is likely to cause more damage than good. Speak to the vendors direct and explain that (a)you are genuine purchasers (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)however you are going to use your own,trusted Anlaby conveyancing solicitors - as opposed tothe ones that will provide the negotiator at the agency a kickback or meet his conveyancing figures pre-set by head office.