My solicitor has identified a a problem with the lease for the apartment we are purchasing in Caldicot. The seller’s lawyers have put forward title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancing practitioner says that he must check that the lender 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 bank 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 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 solicitor will have no choice but to discontinue acting for you.
What is the best way to discover of the solicitor conducting my conveyancing in Caldicot is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Bank of Ireland thus paying £192.00 in further conveyancing fees.
You should make the most of the find a lender approved solicitor tool on this web page. Pick the lender and type ‘Caldicot’ or your preferred area and you will be presented with numerous conveyancers offices in Caldicot or near you.
How does conveyancing in Caldicot differ for new build properties?
Most buyers of new build property in Caldicot contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is built. This is because house builders in Caldicot typically buy the real estate, 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 Caldicot or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Caldicot is where the house is located. What do you suggest?
Flying freeholds in Caldicot are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Caldicot you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Caldicot may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
What tools are available to identify a Caldicot solicitor on the Yorkshire Building Society conveyancing panel? I drive a motor bike and am happy to travel upto 20kilometers to meet the conveyancer.
Feel free to make use of the tool on this website. Please select a lender and your location and you will see a number of Caldicot conveyancing lawyers locally. We have detailed some Caldicot conveyancing firms towards the end of this page and you can ring them to check if they are on the Yorkshire Building Society approved list
As co-executor for the will of my grandfather I am disposing of a property in Swansea but live in Caldicot. My solicitor (approximately 250 kilometers from mehas requested that I sign a statutory declaration before the transaction finalising. Can you recommend a conveyancing lawyer in Caldicot to witness this legal document for me?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are located in Caldicot