Our solicitor has uncovered a defect with the lease for the flat we are purchasing in Leyland. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor has advised that he must be satisfied that the bank is willing to move forward 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 lender are the client. Your conveyancer 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 lender 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 property lawyer will have no choice but to discontinue acting for you.
In what way does my ID and proof of funds have anything to do with my conveyancing in Leyland? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identification documents of the person or body they are dealing with before they can accept their conveyancing instruction. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. If you refuse to supply ID verification documents, your conveyancer would not be able to act for you.
Have just purchased a probate house at auction in Leyland. Conveyancing is necessary. What happens now?
Given that you have now to in every practical sense signed on the dotted line you must hire the services of a conveyancing practitioner as a matter of urgency as you are facing a pending a drop dead date to complete the property. All auction property should have a corresponding auction pack. This should include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the auction pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to leasehold premises. You need to hand this to the solicitor instructed by you at the earliest opportunity. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.
We are buying a victorian detached house in Leyland. We would like to carry out a loft conversion at the house.Will the conveyancing process include enquiries to see if these alterations were previously refused?
Your conveyancer will review the deeds as conveyancing in Leyland can occasionally identify restrictions in the title deeds which prevent categories of works or need the consent of a 3rd party. Some works require local authority planning consent and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
I have a mortgage with Coventry BS for my property in Leyland. Conveyancing was finalised a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Coventry BS?
Your original mortgage agreement with Coventry BS will provide that you need their approval prior to letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. You need not do this via a Coventry BS conveyancing panel lawyer.
I need some expedited conveyancing in Leyland as I am under a deadline to exchange contracts within 2 weeks. A home loan is not required. Is it possible to escape the need for conveyancing searches to save money and time?
As you are are a cash buyer you have the choice not to have searches conducted although no law firm would suggest that you don't. With lots of history conveyancing in Leyland the following are instances of what can show up and therefore impact the marketability of the property: Enforcement Actions, Outstanding Fees, Outstanding Grants, Railway Schemes,...
Is it possible to change solicitor as I need to select one who is on the Leeds Building Society conveyancing list. I was using a family conveyancing solicitor in Leyland round the corner but she is not approved by Leeds Building Society
It would be our pleasure to help you select a conveyancing solicitor in Leyland on the Leeds Building Society panel. Please note that the law firms that we on the directory do not pay us fee if you instruct them and are regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Leyland. In making use of the find a conveyancing solicitor tool on this site, you can scrutinise costs for conveyancing solicitors in Leyland and throughout England and Wales.
I am buying a flat mortgage free. My solicitor has been supplied with with two separate proof of photo identification, bank statement, multiple utility bills. Now he needs a copy from a probate lawyer stating that the funds are in order and that it has come from inheritance and not dealing E's in Ibiza.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Leyland conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.