I am getting a offer of a home loan from Santander. I would like to use a Licensed Conveyancer in Lancaster. Does the Santander Conveyancing panel allow for Licensed Conveyancers?
The Santander conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
Our lawyer has uncovered a defect with the lease for the apartment we are purchasing in Lancaster. The other side have suggested defective title insurance as a solution. We are content with insurance and will pay for it. Our property lawyer says that he must be satisfied that the bank is happy with this solution. Are we the client or is the lender?
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 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 lawyer will have no choice but to discontinue acting for you.
As someone clueless as to conveyancing in Lancaster what’s your top tip you can impart concerning the legal transfer of property in Lancaster
You may not hear this from too many lawyers but conveyancing in Lancaster and elsewhere in Lancashire is often a confrontational process. In other words, when it comes to conveyancing there is lots of room for conflict between you and other parties involved in the ownership transfer. E.g., the seller, property agent and even potentially a lender. Selecting a solicitor for your conveyancing in Lancaster an important selection as your conveyancer is your adviser, and is the ONLY party in the legal process whose role it is to protect your best interests and to protect you.
There is a worrying ongoing adversarial element to conveyancing- someone must be blamed for the process being so protracted. We recommend that you your first instinct should be to trust your conveyancer above the other players when it comes to the legal assignment of property.
I moved into my flat on 10 September and the transaction details is not yet on the land registry website. Need I be worried? My conveyancing solicitor in Lancaster expressed confidence that it would be concluded in a couple of weeks. Are properties in Lancaster uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Lancaster registration formalities. As opposed to being determined by geographic area, timescales can differ according to who lodges the application, whether it is in order and if the Land registry must send notices to any interested persons or bodies. Currently roughly 80% of submission are fully dealt with within 12 days but some can be subject to protracted hold-ups. Historically registration occurs after the new owner has moved in to the premises thus registration formalities is not typically an essential issue yet if there is a degree of urgency associated with the registration then you or your conveyancer must speak with the land registry and explain the circumstances.
Should I be concerned about third parties that I am dealing with are suggesting a nationwide conveyancing firm rather than a High Street Lancaster conveyancing company?
As with lots of professional services, often suggestions from connections can be extremely useful or valuable. Nevertheless there are lots of players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies may suggest lawyers to retain. Sometimes these solicitors might be known to one of the organisations as experts in their field, but occasionally there may be a financial incentive behind the recommendation. You have the right to appoint your own conveyancer. Don't forget that the majority of lenders specify a panel list of conveyancers you have to use for the lender aspect of your home move.
I today plan to offer on a house that appears to be perfect, at a reasonable price which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Lancaster. Conveyancing solicitors have are soon to be appointed. Will my lawyers set out the implications of buying a leasehold house in Lancaster ?
Most houses in Lancaster are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can assist with the conveyancing process. it is apparent that you are buying in Lancaster in which case you should be looking for a Lancaster conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your solicitor will report to you on the legal implications.