Our solicitor has identified a a problem with the lease for the flat we are buying in Roker. The other side have put forward defective title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancer says that he must be satisfied that the bank is content with this solution. Who is the client here, us or the mortgage company ?
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 specifications. You and the mortgage company are the client. The appropriate lender conditions must be adhered to.
How up to date is your search tool for Roker conveyancing solicitors on the TSB conveyancing panel? Do TSB send you an updated list?
Roker conveyancing firms themselves provide us confirmation that they are on the TSB conveyancing panel as opposed to being supplied with a list from TSB directly.
I am purchasing a right to buy a flat in Roker. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Roker you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Roker.
Should my solicitor be making enquiries concerning flooding during the conveyancing in Roker.
Flooding is a growing risk for solicitors dealing with homes in Roker. There are those who buy a property in Roker, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, however there are a numerous checks that may be initiated by the buyer or by their lawyers which should give them a better appreciation of the risks in Roker. The conventional set of completed inquiry forms supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the seller to determine whether the premises has ever been flooded. If the premises has been flooded in past which is not revealed by the owner, then a buyer could commence a claim for damages resulting from an incorrect reply. A purchaser’s conveyancers should also order an environmental report. This should disclose if there is any known flood risk. If so, more detailed inquiries should be carried out.
I'm purchasing my first flat in Roker with a mortgage from Bank of Scotland. The builders refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not disclose to my solicitor about this deal as it would impact my mortgage with the lender. 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.
How varied are the property related services that Roker conveyancing practices undertake?
In the main Roker conveyancing firms manage to provide various legal advice to home and land proprietors, vendors, purchasers, freeholders and leaseholders such as:
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House sale conveyancing in Roker and throughout the rest of the country
Home purchase conveyancing in Roker and countrywide
Non-contentious landlord & tenant matters All types of leasehold property including, flats and maisonettes Helping tenants collectively buy their freehold (Collective Enfranchisement) including setting up the necessary companies Land Registry applications (adverse possession, missing deeds)