Our solicitor has identified a defect with the lease for the property we are purchasing in Consett. The seller’s lawyers have put forward title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancer says that he must be satisfied that the bank is happy with this solution. Who is the client here, us or the bank?
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 solicitor 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 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 lawyer will have no choice but to discontinue acting for you.
Having sold my house in Consett last November but the buyer keeps calling every few hours to moan that her lawyer is waiting to hear from mylawyer. What are the post completion sale formalities following completion?
Following your house sale your lawyer is duty bound to forward the transfer deeds and all supplemental paperwork to the buyer’s lawyers. Where relevant, your solicitor must also confirm that the home loan has been discharged to the purchasers conveyancers. There are no post completion procedures unique to conveyancing in Consett.
three months have gone by since my purchase conveyancing in Consett concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Just had an offer accepted on a new build flat in Consett. Conveyancing is daunting 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 is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Consett
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision.
How do I identify a Consett law firm on the Chelsea Building Society conveyancing panel? I have wheels and am prepared to travel upto 25kilometers to meet the solicitor.
Feel free to make use of the search on this website. Please pick a mortgage company and your location and you will see a number of Consett conveyancing lawyers locally. We have listed some Consett conveyancing firms towards the end of this page and you can telephone them to verify whether they are on the Chelsea Building Society approved list
There are plenty of houses in Consett on unadopted roads. My partner and I are acquiring one such house. Are there any advantages to buying a property on a privately owned road?
Consett conveyancing solicitors are used to dealing homeson unadopted roads. Your conveyancing practitioner should review the Land Registry data to identify any rights or responsibilities. In many cases there is a residents association that owners make annual contributions to maintain the road. Where one exists, the road will likely be maintained and appear better than publicly adopted.