My conveyancer has discovered a a problem with the lease for the apartment we are buying in Peterlee. The other side have offered defective title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancer has advised that he must be satisfied that the mortgage company is content with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank 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.
I have an AIP. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to appoint their panel conveyancer as I would much rather appoint a specialised conveyancing solicitor in Peterlee?
Do check but the the probability is that give you one of their panel solicitors where you want the "fee-free" deal. Contact the bank to determine if they allow a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Peterlee.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Peterlee is the location of the property. Can you offer any guidance?
Flying freeholds in Peterlee are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Peterlee you would need to get your solicitor to go 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 Peterlee 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 property.
How easy is it to change firm as I have to find a firm on the Nationwide Building Society conveyancing list. I hired a family conveyancing solicitor in Peterlee five minutes from me but she is not accepted by Nationwide Building Society
We will our best to assist in finding you a conveyancing solicitor in Peterlee on the Nationwide Building Society panel. Please note that the solicitors that we work with do not pay us a referral fee if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Peterlee. Using the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Peterlee.
I need to instruct a conveyancing solicitor in Peterlee for my sale. Is it possible to review a firm’s record with the profession’s regulator?
You can read presented Solicitor Regulator Association (SRA) determinations stemming from inquisitions commenced on or after 1 January 2008. Visit Check a solicitor's record. For details about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The regulator sometimes recorded call for training purposes.
I am short of a 10% deposit on my house purchase in Peterlee , but I am anxious proceed. What can I do?
You can agree a lesser deposit. Many vendors will agree to a smaller deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute