Our solicitor has uncovered a defect with the lease for the apartment we are purchasing in New Forest. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancer has advised that he must be satisfied that the bank is happy with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook provisions. 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 conveyancer will have no choice but to discontinue acting for you.
Are the New Forest conveyancing solicitors identified as being on the RBS conveyancing panel, together with their details provided by RBS?
New Forest conveyancing firms themselves provide us confirmation that they are on the RBS conveyancing panel as opposed to being supplied with a list from RBS directly.
I am looking to buy a flat and need a conveyancing solicitor in New Forest who is on the Bank of Scotland conveyancing. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Bank of Scotland in certain locations such as New Forest. We dont recommend any particular firm.
I happen to be the sole beneficiary of my late mum's will with all property in now in my sole name, including the my former home in New Forest. Conveyancing formalities meant that the Land Registry date was in February. I want to move. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership may be considered the same way as though I had purchased the property in February. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. many lenders would take a pragmatic view as this requirement primarily exists to identify subsales or the flipping of properties.
We expect to receive a DIP from Nottingham this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nottingham recommend any New Forest solicitors on the Nottingham conveyancing panel, or is it better to find our own lawyer?
You will need to appoint New Forest solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
Intending to buy a apartment in New Forest. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Aldermore conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the New Forest lawyer is on the Aldermore conveyancing panel.
I have a 4 bedroom Edwardian property in New Forest. Conveyancing lawyer acted for me and The Royal Bank of Scotland. 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 exact same property. I thought I was buying a freehold how can I check?
You should read 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in New Forest and other locations in 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 lenders. You can also check the position with the conveyancing practitioner who conducted the conveyancing.
Should local authority consent be necessary to split a house into two appartments in New Forest? This has occurred to a house opposite to my house in New Forest and was not aware of it happening until after the works were done.
Planning Permission yes. Building Regulations yes.