My wife and I are buying a 3 bedroom flat in Seaham with a mortgage. We would like to retain our Seaham conveyancer, but the lender says she’s not on their "panel". We have to appoint one of the lender panel solicitors or keep our Seaham property lawyer and pay for one of their panel firms to represent them. We regard this is unjust; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Seaham conveyancing lawyer to apply to be on the conveyancing panel.
My wife and I are purchasing a house in Seaham. I might seem paranoid but how we can trust a solicitor? At some point we have to put funds into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
My conveyancer has informed me that missing deeds insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Seaham?
The right level of missing deeds indemnity insurance should be dictated by who your lender. It would differ for example between Santander and Barnsley Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.
I am selling my house. I had a double glazing fitted in November 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, TSB are being difficult. The Seaham solicitor who is on the TSB conveyancing panel is happy to accept ‘lack of building regulation’ insurance but TSB are requiring a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have been told that property searches are a common cause of stalling in Seaham conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays during the legal transfer of property. Searches are unlikely to feature in any holding up conveyancing in Seaham.
My wife and I own a renovated Edwardian property in Seaham. Conveyancing lawyer acted for me and Barclays Direct. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for 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 Seaham and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with your conveyancing lawyer who conducted the purchase.
The estate agent has sent us the confirmation of our purchase of a new build flat in Seaham. Conveyancing is necessary evil 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.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Seaham
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I need to consider costs for conveyancing in Seaham from three property lawyer and appoint one. Do I get them to hold tight until I a suitable house to buy.
You should only ask your conveyancing practitioner to open a file and submit searches once the offer has been agreed to on the property especially as Seaham conveyancing searches are a couple of hundred pounds.