Our conveyancer has uncovered a a legal deficiency with the lease for the property we are buying in East Boldon. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must be satisfied that the lender is happy with this solution. Are we the client or is the mortgage company ?
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 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 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 conveyancer will have no choice but to discontinue acting for you.
Are the East Boldon conveyancing solicitors identified as being on the Virgin Money conveyancing panel, together with their details provided by Virgin Money?
East Boldon conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.
I am purchasing a right to buy a flat in East Boldon. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in East Boldon you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in East Boldon.
I have justbecome aware that Action Conveyancing have been shut down. They carried out my conveyancing in East Boldon for a purchase of a leasehold flat 18 months ago. How can I establish that the property is in my name in the name of the former proprietor?
The easiest method to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of East Boldon conveyancing specialists.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what should have been a straight forward, chain free conveyancing. East Boldon is the location of the property. What do you suggest?
Flying freeholds in East Boldon are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside East Boldon you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in East Boldon 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 premises.
Hoping to buy a property located in East Boldon and I am already nervous. I couldn't find anything specific about East Boldon. Conveyancing will be needed in due course but do you know about the East Boldon area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at East Boldon. In the meantime here are some basic statistics that we found