It is a dozen years since I bought my home in Chesterton. Conveyancing solicitors have just been appointed on the sale but I can't locate the title documents. Is this a major issue?
You need not be too concerned. Firstly the deeds may be with the lender or they could be in the possession of the solicitor who oversaw your purchase. Secondly the chances are that the title will be registered at the land registry and you will be able to establish that you own the property by your conveyancing solicitors acquiring up to date copy of the land registers. Most conveyancing in Chesterton relates to registered property but in the rare situation where your home is not registered it is more tricky but is resolvable.
Are all Chesterton Conveyancing Quality Solicitors on the Principality conveyancing panel?
A selection of lenders now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
I am expecting a OIP from Principality this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Principality recommend any Chesterton solicitors on the Principality conveyancing panel, or is it better to go independently?
You will need to appoint Chesterton solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Chesterton bank branch on numerous occasions and was advised it wasn't a problem and they would lend. My Chesterton conveyancing solicitor - who is on the bank conveyancing panel- telephoned and was told they would not lend in accordance with their specific requirements. Who do I believe?
Your lawyer must follow the Council of Mortgage Lenders’ Handbook section two provisions for your lender. 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
About to purchase a new build flat in Chesterton. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Chesterton
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Please confirm the Lease plans are architect prepared. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Are there any apps to help identify a Chesterton law firm on the Accord Mortgages Ltd conveyancing panel? I drive a motor bike and am willing to travel upto 25kilometers to meet the conveyancer.
You can use the tool on this website. Please select a lender and your location and you will see a number of Chesterton conveyancing lawyers locally. We have detailed some Chesterton conveyancing firms at the bottom of this page and you can ring them to see if they are on the Accord Mortgages Ltd panel
My father-in-law has recommend that I use his lawyers for conveyancing in Chesterton. Do I follow his advice?
There are no two ways about it the ideal way to choose a conveyancing solicitor is to get guidance from friends or family who have actually used the conveyancer that you are contemplating using.
Our solicitor in Chesterton has uncovered a a problem with the lease for the apartment we are purchasing in Chesterton. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer has advised that as he is on the mortgage company conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is the lender?
Just because you have a mortgage offer from the lender does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Chesterton conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the mortgage company are the client. The appropriate lender requirements have to be complied with by the mortgage company conveyancing panel who has to balance acting for you and the mortgage company