Our solicitor has discovered a a legal deficiency with the lease for the apartment we are purchasing in St Albans. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancer says that he must be satisfied that the bank is happy with this solution. Who is the client here, us or the lender?
Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the mortgage company are the client. These conveyancing instructions must be adhered to.
We are looking to buy a house and require a conveyancing solicitor in St Albans who is on the Principality approved panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Principality . We don't recommend any particular firms conducting conveyancing in St Albans.
Will my solicitor be raising enquiries concerning flooding as part of the conveyancing in St Albans.
Flooding is a growing risk for lawyers dealing with homes in St Albans. There are those who buy a house in St Albans, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Conveyancers are not best placed to give advice on flood risk, however there are a various checks that can be initiated by the purchaser or by their lawyers which will give them a better appreciation of the risks in St Albans. The standard information sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a standard question of the owner to determine whether the property has historically flooded. If the property has been flooded in past which is not disclosed by the vendor, then a buyer could bring a legal claim for losses as a result of such an incorrect reply. The purchaser’s conveyancers may also order an enviro search. This will disclose whether there is any known flood risk. If so, more detailed inquiries will need to be carried out.
Me and my brother own a 4 bedroom Edwardian house in St Albans. Conveyancing practitioner represented me and Skipton Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold under the matching address. I'd like to know for sure, how can I find out??
You should review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in St Albans 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 mortgage companies. You can also check the situation with the conveyancing practitioner who carried out the work.
I am buying my first flat in St Albans with a loan from National Westminster Bank. The builders refused to budge the price so I negotiated £7000 of additionals instead. The house builders rep advised me not disclose to my conveyancer about the deal as it will put at risk my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Due to the guidance of my in-laws I had a survey completed on a property in St Albans in advance of instructing lawyers. I have been informed that there is a flying freehold overhang to the house. The surveyor advised that some mortgage companies will refuse to issue a mortgage on this type of home.
It varies from the lender to lender. HSBC has different instructions from Halifax. If you call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in St Albans. Conveyancing may be slightly more expensive based on your lender's requirements.