It has come to my attention via my mortgage broker that my Nantwich property lawyer is not on the lender Conveyancing panel. How can I be sure that this is correct?
You need to contact your Nantwich lawyer directly. It is reasonable to expect your lawyer to notify you of the situation. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
My conveyancer has identified a a problem with the lease for the apartment we are purchasing in Nantwich. The other side have put forward title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer has advised that he must be satisfied that the bank is content with this solution. Who is the client here, us or the lender?
Even though you have a mortgage offer from the lender 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 bank are the client. The appropriate lender conditions must be adhered to.
When will exchange of contracts occur in residential conveyancing in Nantwich and am I required to be at the conveyancers branch?
If you are near to our conveyancing solicitors in Nantwich you are invited in to sign documents. However, the law practices we work with supply a nationwide conveyancing service and provide just as detailed and professional a job for you when dealing with you by post or email. The signing of the contract is not the critical part. Signing on the dotted line simply enables the conveyancer to exchange contracts when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Nantwich)to be in the office at the appropriate time.
My wife and I own a terraced Georgian property in Nantwich. Conveyancing practitioner acted for me and Coventry Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
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 Nantwich and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing lawyer who conducted the purchase.
I'm buying a new build house in Nantwich with a mortgage from Chelsea Building Society. The developers refused to reduce the amount so I negotiated £7000 of extras instead. The house builders rep suggested that I not disclose to my conveyancer about the extras as it would adversely affect my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey completed on a house in Nantwich in advance of appointing conveyancers. I have been informed that there is a flying freehold aspect to the property. The surveyor has said that some lenders tend refuse to grant a loan on this type of property.
It depends who your proposed lender is. HSBC has different instructions from Nationwide. Should you wish to call us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Nantwich. Conveyancing will be smoother if you use a solicitor in Nantwich especially if they are familiar with such properties in Nantwich.