My lawyer has identified a a legal deficiency with the lease for the flat we are purchasing in Newhaven. The other side have offered defective title insurance as a workaround. We are happy with insurance and will pay for it. Our property lawyer says that he must ensure that the mortgage company is willing to move forward with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your lawyer 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.
Completed the sale of my flat in Newhaven last October yet the purchaser is calling me to moan that her lawyer is waiting to hear from myconveyancer. What are the post completion sale legalities now that I have sold?
After completion of your house sale your conveyancer should forward the transfer documentation and all additional paperwork to the purchaser's conveyancer. If applicable, your solicitor must also confirm that the legal charge in favour of the lender has been repaid to the buyers conveyancers. There is unlikely to be post completion formalities just for conveyancing in Newhaven.
We wanted to use a property lawyer in Newhaven for our home move. Our financial adviser informed us that our mortgage company The Mortgage Works won't deal with them. Surely this is unduly restrictive?
A mortgage company can insist on a panel conveyancer act for it. You would be liable to meet the charges for this. Please make use of our tool to get a quote from a solicitor to conduct conveyancing in Newhaven on the The Mortgage Works approved list of solicitors.
My husband and I have arranged a further advance on our home loan from Nationwide as we want to carry out renovations to our property in Newhaven. Do we need to select a bricks and mortar Newhaven solicitor on the Nationwide conveyancing panel to deal with the paperwork?
Nationwide don't usually require a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nationwide panel.
My wife and I are spending time looking at houses in Newhaven and I am now considering a potential offer. Is it premature to have a solicitor in place? I will be getting a mortgage with Bank of Ireland.
It would be sensible to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the EA. Given that you are taking out a mortgage with Bank of Ireland, ask your prospective lawyers if they are on the Bank of Ireland conveyancing panel otherwise they can't do the mortgage legal work.
I currently have a mortgage with HSBC for my property in Newhaven. Conveyancing was finalised some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform HSBC?
You must advise HSBC prior to letting out your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. It should not be necessary to do this via a HSBC conveyancing panel solicitor.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Newhaven. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Newhaven
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
What type of premises does your Newhaven conveyancing estimates relate to?
The quotes provided are only applicable to standard domestic premises in England & Wales. If you have any different requirements for instance industrial or agricultural land or commercial conveyancing in Newhaven please telephone us to consider this further .