My lawyer has identified a a legal deficiency with the lease for the property we are purchasing in Woodhouse Eaves. The other side have offered title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer says that he must check that the bank is content with this solution. Who is the client here, us or the lender?
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 provisions have to be complied with.
I am purchasing a right to buy a flat in Woodhouse Eaves. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Woodhouse Eaves you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Woodhouse Eaves.
I have a semi-detached Victorian house in Woodhouse Eaves. Conveyancing lawyer acted for me and The Royal Bank of Scotland. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold with the exact same property. I'd like to know for sure, how can I find out??
You need to 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Woodhouse Eaves and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with the conveyancing lawyer who conducted the conveyancing.
I am buying my first flat in Woodhouse Eaves with a mortgage from Coventry Building Society. The builders would not reduce the price so I negotiated 6k of extras instead. The estate agent told me not disclose to my lawyer about this extras as it will adversely affect my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Woodhouse Eaves is where the house is located. Can you offer any advice?
Flying freeholds in Woodhouse Eaves are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Woodhouse Eaves you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Woodhouse Eaves may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My husband and I are 17 days into a freehold purchase having been directed to conveyancers by the high street agent to execute conveyancing in Woodhouse Eaves. I am am starting to be frustrated with the quality of service. Could you you assist me in finding new lawyers?
A solicitor would have to be really bad in order to consider diss instructing them. Has the mortgage offer been issued? In the event that it has you need to inform them of the new contact details and get the offer are issued to the new lawyers. Your new solicitor ideally needs to be on the mortgage company panel to avoid added costs and frustration. So that should be your starting point. The find a solicitor tool can help you find a bank approved lawyer for your home move in Woodhouse Eaves