My conveyancer has identified a defect with the lease for the apartment we are buying in Wimborne. The seller’s lawyers have offered defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancer says that he must check that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
I had intended to instruct a property lawyer in Wimborne for our home move. Our broker has since advised us that our mortgage company The Mortgage Works won't deal with them. Why is this not regarded as unduly restrictive?
Before the recession most mortgage companies had a different appetite for risk. Almost all Wimborne conveyancing firms would have been on most bank panels. The Financial Services Authority in 2010 carried out a thematic review into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more information from law firms relating to their operations and their employees and establishing certain criteria such a completing on a minimum number of conveyancing. Many Wimborne conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Wimborne is amongst the thousands of locations where the lawyers showing on our search results are are authorised to act for The Mortgage Works.
Will commercial conveyancing searches disclose planned roadworks that could affect a commercial estate in Wimborne?
Its becoming the norm that commercial conveyancing solicitors in Wimborne will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Wimborne. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Wimborne.
For every commercial conveyancing transaction in Wimborne it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could cause delays to Wimborne commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Wimborne.
I opted to have a survey completed on a house in Wimborne ahead of retaining solicitors. I have been told that there is a flying freehold element to the property. Our surveyor advised that some lenders tend refuse to issue a loan on such a premises.
It varies from the lender to lender. Lloyds has different instructions from Halifax. If you e-mail us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Wimborne. Conveyancing may be slightly more expensive based on your lender's requirements.
I am downsizing from my home. My former lawyers closed down. I am in need of a recommendation of a conveyancing firm. I happen to live in Wimborne if that makes a difference.
Do use our search tool to help you find a solicitor for your conveyancing in Wimborne. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
As co-executor for the will of my aunt I am disposing of a property in Newport but live in Wimborne. My solicitor (based 260 kilometers from meneeds me to execute a statutory declaration prior to completion. Can you recommend a conveyancing practitioner in Wimborne who can witness this legal document for me?
strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are located in Wimborne