My conveyancer has identified a defect with the lease for the flat we are buying in Mold. The seller’s lawyers have offered title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer has advised that he must be satisfied that the mortgage company is content with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank 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 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 solicitor will have no choice but to discontinue acting for you.
We are planning to acquire a flat and require a conveyancing solicitor in Mold who is on the Skipton conveyancing panel. Could you point me in the right direction as regards a conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Skipton . We don't recommend any particular firms conducting conveyancing in Mold.
We're in Mold, First time buyers buying with a mortgage (lender is Nottingham , and our solicitor is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham 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.
Will our lawyer be raising enquiries concerning flooding as part of the conveyancing in Mold.
The risk of flooding is if increasing concern for solicitors dealing with homes in Mold. There are those who acquire a property in Mold, completely aware that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Lawyers are not qualified to offer advice on flood risk, however there are a various checks that may be initiated by the purchaser or on a buyer’s behalf which will give them a better appreciation of the risks in Mold. The standard information sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the vendor to find out if the premises has historically flooded. In the event that flooding has previously occurred and is not disclosed by the vendor, then a buyer could bring a compensation claim as a result of such an inaccurate answer. The purchaser’s lawyers should also carry out an environmental report. This will indicate whether there is a recorded flood risk. If so, further inquiries should be conducted.
My wife and I have a 4 bedroom Victorian property in Mold. Conveyancing practitioner acted for me and TSB. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold with the matching property. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Mold and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with your conveyancing solicitor who completed the work.
About to purchase a new build flat in Mold. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Mold
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are surveyor prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan.