My lawyer has uncovered a a legal deficiency with the lease for the apartment we are buying in Liskeard. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer has advised that he must be satisfied that the mortgage company is happy with this solution. Are we the client or is the lender?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their requirements 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 mortgage company are the client. These conveyancing instructions have to be complied with.
We see that you have a search directory listing solicitors on the Skipton conveyancing panel. Do firms pay you a commission if I instruct them for our conveyancing in Liskeard?
We are a listing service only for law firms wishing to communicate if they are on the Skipton conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Liskeard.
We're in Liskeard, First time buyers buying with a mortgage (lender is Co-operative , and our lawyer is on the Co-operative conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Co-operative conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Should my conveyancer be raising questions regarding flooding as part of the conveyancing in Liskeard.
The risk of flooding is if increasing concern for lawyers conducting conveyancing in Liskeard. There are those who acquire a property in Liskeard, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Conveyancers are not qualified to impart advice on flood risk, however there are a number of searches that may be initiated by the purchaser or by their conveyancers which will figure out the risks in Liskeard. The standard property information forms supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the seller to find out if the premises has suffered from flooding. If flooding has previously occurred and is not disclosed by the seller, then a buyer could issue a compensation claim stemming from an misleading answer. The purchaser’s solicitors should also conduct an environmental search. This should disclose if there is any known flood risk. If so, further investigations will need to be carried out.
Despite weeks of looking the Title Certificate and documents to my home can not be found. The solicitors who did the conveyancing in Liskeard 4 years ago have long since closed. What do I do?
Assuming the title is registered the details of your ownership will be recorded by the Land Registry with a Title Number. It is possible to conduct a search at the Land Registry, identify your property and obtain up to date copies of the Registered Entries for less than a fiver. Where the property is Leasehold then the Land Registry will in most cases retain a file copy of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
Do I stop the direct debit for my mortgage with HSBC once a completion date for my sale in Liskeard has been set?
You are best advised to maintain paying any mortgage payments to HSBC pending the mortgage being discharged on completion as part of your Liskeard conveyancing.