Our solicitor has uncovered a defect with the lease for the property we are buying in Toton. The other side have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our property lawyer has advised that he must be satisfied that the mortgage company is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
Notwithstanding that you have a mortgage offer from the mortgage company 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 conditions. You and the bank are the client. These conveyancing instructions must be adhered to.
Do the Building Society Association intend to launch a online directory to list law firms on the Darlington Building Society conveyancing panel for instance in Toton?
We have not been informed any intention on the part of the BSA to promote such a search facility.
Will our solicitor be raising enquiries regarding flooding as part of the conveyancing in Toton.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Toton. Plenty of people will buy a property in Toton, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Conveyancers are not qualified to impart advice on flood risk, however there are a number of checks that can be initiated by the buyer or on a buyer’s behalf which will give them a better understanding of the risks in Toton. The standard information sent to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the owner to find out if the property has ever been flooded. In the event that flooding has previously occurred which is not notified by the owner, then a buyer could bring a compensation claim stemming from an inaccurate answer. A purchaser’s conveyancers will also carry out an environmental report. This should higlight if there is a recorded flood risk. If so, further investigations will need to be conducted.
Due to the guidance of my in-laws I had a survey completed on a property in Toton before instructing solicitors. I have been advised that there is a flying freehold aspect to the house. My surveyor advised that some banks may not grant a mortgage on such a home.
It depends who your proposed lender is. Santander has different instructions from Nationwide. If you contact us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Toton. Conveyancing will be smoother if you use a solicitor in Toton especially if they are familiar with such properties in Toton.
How can the Landlord & Tenant Act 1954 affect my commercial property in Toton and how can you help?
The 1954 Act affords protection to commercial leaseholders, granting the legal entitlement to apply to court for a continuation of occupancy when the lease comes to an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act for protection and assist with commercial conveyancing in Toton
We're FTB’s - had an offer accepted, yet the selling agent informed us that the vendor will only move forward if we appoint the agent's chosen lawyers as they want an ‘expedited deal’. My instinct tells me that we should use a local solicitor who is familiar with conveyancing in Toton
We suspect that the seller is unaware of this request. Should the seller require ‘a quick sale', taking such a hostile approach to a motivated purchaser is counter productive. Contact the sellers directly and make the point that (a)you are keen to buy (b)you are ready to progress, with finances in place © you have nothing to sell (d) you wish to move quickly (e)however you will continue to use your preferred Toton conveyancing lawyers - as opposed tothose that will earn the negotiator at the agency a kickback or achieve conveyancing targets pre-set by HQ.