My solicitor has identified a a legal deficiency with the lease for the flat we are purchasing in Lymm. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will pay for it. Our property lawyer says that he must check that the mortgage company is willing to move forward with this solution. Who is the client here, us or the lender?
Even though you have a mortgage offer from the mortgage company does not mean to say that the property will meet their conditions 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 have to be complied with.
I purchased a freehold house in Lymm but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Lymm and has limited impact for conveyancing in Lymm but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
My husband and I are purchasing a 3 bedroom apartment in Lymm with a homeloan from Nottingham Building Society.We have a Lymm conveyancing practitioner but Nottingham Building Society says he's not on their "panel". we are left little option but to use a Nottingham Building Society panel lawyer or retain our high street solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The mortgage issued to you is subject to its various provisions, a common one being that solicitors will be on the Nottingham Building Society solicitor panel. in the past, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Nottingham Building Society
Do I need to take out insurance to protect me from financial exposure to chancel repairs when purchasing a property in Lymm?
Unless a prior acquisition of the premises completed after 12 October 2013 you could expect lawyers handling conveyancing in Lymm to remain recommending a chancel search and or insurance against a claim.
Due to the encouragement of my in-laws I had a survey completed on a house in Lymm in advance of retaining lawyers. I have been told that there is a flying freehold overhang to the property. My surveyor advised that some lenders tend not give a mortgage on a flying freehold property.
It depends who your proposed lender is. HSBC has different instructions for example to Nationwide. Should you wish to call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Lymm. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Lymm to see if the conveyancing costs will increase in light of this.
A licensed conveyancer acted on my conveyancing in Lymm 8 years past and was holding my title documents but has since been shut down – What can I do to get hold of them?
Deeds, as such, are no longer appropriate for most homes in Lymm are archived electronically at Land Registry. If you need to prove evidence of proprietorship or are disposing of or refinancing your property lawyer will need to obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned with reasonable haste.