My conveyancer has discovered a a problem with the lease for the flat we are purchasing in Bradwell. The seller’s lawyers have offered title insurance as a solution. We are content with insurance and will pay for it. Our solicitor has advised that he must check that the lender is content with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender 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 am thinking of mortgaging my house in Bradwell, does my lawyer need to be on the Virgin Money Conveyancing panel?
There is nothing to stop you using your solicitor, but Virgin Money will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
There are a variety of conveyancing solicitors in Bradwell but how do I know who I should use?
Do not opt for the lowest Bradwell conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
is it true that all Bradwell solicitors on the Co-operative conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Co-operative approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of banks do allow licenced conveyancers on their panel in which case such organisation would be governed by the Council of Licensed Conveyancers.
I have today made my last payment due on my mortgage with Kent Reliance. I assume I don't need a Bradwell lawyer on the Kent Reliance panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Kent Reliance mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Kent Reliance mortgage from the register. Kent Reliance, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Kent Reliance has sent the Land Registry the discharge electronically, and
- Kent Reliance has instructed the Land Registry to do so
I have todaybecome aware that Action Conveyancing have closed. They conducted my conveyancing in Bradwell for a purchase of a leasehold flat 12 months ago. How can I be sure that my home is not still registered in the name of the previous owner?
The quickest way to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bradwell conveyancing specialists.
I am looking for a flat up to £235,500 and identified one near me in Bradwell I like with a park and station in the vicinity, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Bradwell suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan that many years may be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.