My solicitor has identified a a legal deficiency with the lease for the flat we are buying in Broughton Astley. The other side have put forward title insurance as a solution. We are happy with insurance and will pay for it. Our property lawyer says that he must ensure 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 potential for a conflict of interest, you and the mortgage company are the client. Your property 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 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.
Our mortgage company has suggested a law firm on their panel based in Broughton Astley but I would rather instruct a conveyancing lawyer in Broughton Astley or nearer to where I live. Are you able to help?
Not all Broughton Astley conveyancing practitioners are listed all lender’s conveyancing panel. Use our search tool to locate a Broughton Astley conveyancing conveyancer on the on the mortgage company panel.
My wife and I own a 4 bedroom Edwardian house in Broughton Astley. Conveyancing solicitor represented me and Halifax. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold with the matching 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Broughton Astley 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 buyers. You can also question the position with the conveyancing lawyer who carried out the work.
Due to the guidance of my in-laws I had a survey completed on a property in Broughton Astley prior to instructing solicitors. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies will not issue a mortgage on a flying freehold premises.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Broughton Astley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Broughton Astley to see if the conveyancing costs will increase in light of this.
I am looking for a conveyancing practitioner in Broughton Astley for my sale. Is it possible to check a firm’s complaints history with the legal regulator?
Anyone may review documented Solicitor Regulator Association (SRA) decisions stemming from investigations commenced on or after 1 January 2008. Visit Check a solicitor's record. To find information Pre 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The SRA could monitor call for training reasons.
We are about to complete buying a property in Broughton Astley but as a consequence of wreckage from the recent storms I have agreed recompense from the owner of five thousand pounds by way of a adjustment in the price. I had intended this to be addressed as part of the conveyancing process yet my lender will not permit this. Should they have been informed?
The conveyancer listed on a lender conveyancing panel is required to disclose to the mortgage company of any variations to the sale amount. In the event that you did not allow your solicitor to disclose the price change to your mortgage company then they would have no choice but to disinstructing themselves from acting for you and the mortgage company.