My lawyer has uncovered a a legal deficiency with the lease for the property we are buying in St Brides Major. The other side have put forward title insurance as a solution. We are content with insurance and will pay for it. Our property lawyer says that he must ensure that the lender is content with this solution. Are we the client or is the mortgage company ?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the lender are the client. The appropriate lender conditions have to be complied with.
We see that you have a search directory listing firms on the Lloyds conveyancing panel. Do companies pay you a commission if I appoint them for our own conveyancing in St Brides Major?
We are a listing service only for law firms wishing to communicate if they are on the Lloyds conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in St Brides Major.
Please explain the implications if my solicitor is suspended from the Santander Solicitor panel ahead of completing my conveyancing in St Brides Major?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
How does conveyancing in St Brides Major differ for new build properties?
Most buyers of new build residence in St Brides Major contact us having been asked by the builder to sign contracts and commit to the purchase even before the residence is constructed. This is because builders in St Brides Major usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in St Brides Major or who has acted in the same development.
I decided to have a survey done on a house in St Brides Major in advance of appointing solicitors. I have been advised that there is a flying freehold element to the property. Our surveyor has said that some lenders may not grant a loan on this type of property.
It varies from the lender to lender. HSBC has different instructions from Halifax. Should you wish to telephone us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in St Brides Major. Conveyancing will be smoother if you use a solicitor in St Brides Major especially if they regularly deal with such properties in St Brides Major.
As co-executor for the estate of my aunt I am selling a house in Monmouth but live in St Brides Major. My lawyer (approximately 300 kilometers from merequires that I execute a statutory declaration before completion. Could you suggest a conveyancing solicitor in St Brides Major to witness and place their company stamp on the document?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are based in St Brides Major