Our conveyancer has uncovered a defect with the lease for the flat we are purchasing in Desford. The seller’s lawyers have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer has advised that he must ensure that the mortgage company is happy with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook requirements. 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 conveyancing practitioner will have no choice but to discontinue acting for you.
I am thinking of refinancing my house in Desford, does my lawyer need to be on the Coventry BS Solicitor panel?
In theory, you could use a solicitor that is not on the Coventry BS conveyancing panel, but Coventry BS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I have a terraced Edwardian house in Desford. Conveyancing solicitor acted for me and Yorkshire Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You need to assess 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 Desford and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with the conveyancing lawyer who conducted the conveyancing.
How does conveyancing in Desford differ for newly converted properties?
Most buyers of new build premises in Desford come to us having been asked by the developer to exchange contracts and commit to the purchase even before the house is ready to move into. This is because developers in Desford 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 conveyancers 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 Desford or who has acted in the same development.
Do I need to be concerned that third parties that I am dealing with are suggesting a factory type conveyancing firm as opposed to a local Desford conveyancing firm?
As with lots of service providers, often input from connections can be extremely useful or valuable. Yet there are numerous parties with a vested interest in a conveyancing matter; estate agents, mortgage brokers and banks may suggest lawyers to select. On occasion the solicitors might be known to one of the organisations as experts in their field, but sometimes there might be a financial incentive behind the recommendation. You are at liberty to appoint your preferred lawyer. You need to be aware that the majority of banks operate an approved list of lawyers you have to use for the lender aspect of your house move.
Should one as executor remove a departed person's details from the title register for a property in Desford?
If a Desford property is co-owned and one of the proprietors dies, the name will not immediately be removed from the Land Registry title. It is not necessary to amend the title as when it comes to a disposal you would simply be asked to evidence as to the reason the joint proprietor is not a party to the contract, usually this is in the form of the probate documents.
With the aim of making things more straight forward for the sale of the property you may apply to have the deceased name removed from the title by applying to the land registry with evidence of the death. There is no fee from the Registry for this service.