My conveyancer has discovered a defect with the lease for the apartment we are purchasing in Lytham. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will pay for it. Our property lawyer says that he must check that the bank is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the lender 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 mortgage company are the client. The appropriate lender specifications have to be complied with.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Lytham?
Two types of professional can do conveyancing in Lytham namely CLC regulated conveyancers or solicitors. Both professionals administer the legal services that required to complete the sale or purchase of property. Both are obliged to carry out Lytham conveyancing to the same standards and guidelines so you can be sure that your conveyancing will be professionally conducted and that the requirements and steps will be appropriately adhered to.
I recently had an offer agreed on an apartment in Lytham. My mortgage broker suggested a property lawyer. I paid an advanced payment of £200. A few days later, the conveyancer contacted me embarrassingly acknowledging that they were not on the Co-operative conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Co-operative panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Lytham solicitor - who is on the Lloyds conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Lytham surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
What will a local search inform me about the property we're purchasing in Lytham?
Lytham conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search company for example PSG The local search plays a central role in most Lytham conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your property. The search will provide information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
The deeds to my home can not be found. The conveyancers who conducted the conveyancing in Lytham 5 years ago are no longer around. What are my options?
You no longer need to hold title deeds to evidence that you are the registered proprietor of land or property, given that the Land Registry have everything they need in a digital format.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Lytham is where the house is located. What do you suggest?
Flying freeholds in Lytham are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lytham you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lytham may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Should I be concerned about third parties that I am dealing with are encouraging me to use a national conveyancing firm rather than a local Lytham conveyancing company?
As with many service providers, often recommendations from family and friends can be very helpful. But there are numerous people with a vested interest in a conveyancing matter; estate agents, mortgage brokers and lenders might all put forward solicitors to select. Sometimes these conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there may be a financial incentive behind the endorsement. You are free to appoint your preferred conveyancer. However, bear in mind that most lenders operate an approved list of law firms you are obliged to use for the mortgage related work in your transaction.