Our conveyancer has uncovered a a problem with the lease for the property we are buying in Bangor. The seller’s lawyers have suggested title insurance as a solution. We are content with insurance and will cover the costs. Our property lawyer has advised that he must check that the bank is happy with this solution. Who is the client here, us or the mortgage company ?
Notwithstanding that 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 provisions. You and the lender are the client. These conveyancing instructions have to be complied with.
We are buying a house in Bangor. I might seem paranoid but how we can trust a conveyancer? On the day of competition we will need to send our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I happen to be the only recipient of my late mum's estate with all property in now in my sole name, including the house in Bangor. Conveyancing formalities meant that the Land Registry date was in November. I want to move. I do know about the CML 6 month 'rule', which means that my proprietorship will be considered the same way as if I'd bought the house in November. Will no one buy the property for half a year?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. Some lenders would take a pragmatic view as this provision is principally there to pick up on the purchase and immediately sell or the flipping of property.
We previously appointed conveyancers with offices in Bangor on the Skipton solicitor panel. They have just billed me a further fee for the legal aspects of the Skipton mortgage. Is this an additional conveyancing fee specified by Skipton?
Unfortunately, so long as it is in their Terms and Conditions or Quote then yes your conveyancer is entitled to charge a fee for this. The charge is not set by Skipton but by your Bangor solicitor. Plenty of firms on the Skipton panel will quote ’dealing with mortgage’ fee but plenty of practices incorporate it on their overall fee.
How does conveyancing in Bangor differ for newly converted properties?
Most buyers of new build or newly converted property in Bangor come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is completed. This is because house builders in Bangor tend to 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 property lawyers 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 used to new build conveyancing in Bangor or who has acted in the same development.
What is different about your site and alternative online quote calculators when it comes to conveyancing in Bangor?
At this site obtain a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the issues of your conveyancing in Bangor. As opposed to estate agents and many comparison sites we do not have referral deals with solicitors. A large number of agents and online brokers 'recommend' the firm that pays the highest per referral, as opposed to the best value conveyancing in Bangor
A licensed conveyancer handled my conveyancing in Bangor 8 years ago and was holding my title documents but has now closed – What can I do to get hold of these?
Deeds, as such, are no longer appropriate for most properties in Bangor are recorded electronically at Land Registry. Where you need to show evidence of proprietorship or are selling or re-mortgaging your conveyancer should obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned as quickly as possible.