My solicitor has uncovered a a problem with the lease for the flat we are purchasing in Kimbolton. The other side have offered title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancing practitioner says that he must be satisfied that the lender is willing to move forward 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 lender are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions. 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 solicitor will have no choice but to discontinue acting for you.
As someone not used to the Kimbolton conveyancing process what is your top tip you can impart for the legal transfer of property in Kimbolton
You may not hear this from too many lawyers but conveyancing in Kimbolton and elsewhere in England and Wales is an adversarial experience. Put another way, when it comes to conveyancing there exists an abundance of opportunity for confrontation between you and other parties involved in the home moving process. E.g., the seller, property agent and on occasion a bank. Selecting a lawyer for your conveyancing in Kimbolton is a critical decision as your conveyancer is your adviser, and is the SOLE party in the process whose interest is to protect your legal interests and to keep you safe.
We are witnessing a worrying ongoing adversarial element to conveyancing- someone has to be blamed for the process taking so long. You your first instinct should be to trust your conveyancer ahead of all other parties when it comes to the legal transfer of property.
My apartment in Kimbolton is up for sale and I have a buyer. Does the property lawyer need to be on the Kent Reliance conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Kent Reliance 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 currently.
My relative recommended that where I am buying in Kimbolton I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Kimbolton conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Kimbolton around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information concerning Kimbolton.
I bought my home on 16 August and the transaction details is yet to be on the land registry website. Any reason for this? My conveyancing solicitor in Kimbolton said it would be registered in a couple of weeks. Are properties in Kimbolton uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Kimbolton registration formalities. As opposed to being determined by geographic area, timeframes can differ subject to who lodges the application, whether there are errors and whether the Land registry need to notify any third persons or bodies. Currently approximately three quarters of submission are fully dealt with within two weeks but occasionally there can be protracted delays. Registration is effected once the purchaser has moved in to the premises so an expedited registration is not usually an essential issue but where it is urgent that the the registration takes place urgently then you or your lawyers should communicate with the Registry to express the reasoning for the application to be prioritised.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Kimbolton. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Kimbolton
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? Please supply evidence that the form of Lease proposed has been approved by the Land Registry.