We opted for a Ironbridge based firm for our conveyancing in Ironbridge last week. Going through the fine print I seewe are liable for fees even where the conveyance does not complete. Would I be best advised to appoint an on-line lawyer offering no move no charge conveyancing in Ironbridge?
Generally there is a compromise along the lines that if "No Completion No Fee" is available then the fee levels will generally be uplifted to counteract the cases that abort. Do bear in mind that such arrangements rarely protect you from expenditure for instance Ironbridge conveyancing search expenses.
My solicitor has uncovered a defect with the lease for the apartment we are buying in Ironbridge. The other side have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancer says that he must be satisfied that the bank is happy with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. These conveyancing instructions must be adhered to.
We are selling our flat in Ironbridge. Will the property lawyer need to be on the Santander conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Santander conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
I own a 4 bedroom Victorian property in Ironbridge. Conveyancing lawyer acted for me and Barclays . I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold under the matching address. 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 for 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 Ironbridge and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing solicitor who completed the work.
I am purchasing a new build house in Ironbridge with the aid of help to buy. The builders would not reduce the price so I negotiated £7000 of extras instead. The sale representative told me not disclose to my conveyancer about the side-deal as it could jeopardize my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My father-in-law has recommend that I appoint his conveyancers in Ironbridge. Should I choose my own solicitor?
No doubt the ideal way to choose a conveyancing lawyer is to seek referrals from friends or family who have actually experience in using the solicitor you're contemplating using.