My conveyancer has identified a defect with the lease for the property we are buying in Broughton. The other side have put forward defective title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancer says that he must check that the bank is content with this solution. Who is the client here, us or the bank?
Notwithstanding that you have a mortgage offer from the lender 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. The appropriate lender provisions have to be complied with.
I am considering applying for a Co-operative mortgage for purchase of a newly converted (under development) in Broughton with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Co-operative ?
In theory, you could use a solicitor that is not on the Co-operative conveyancing panel, but Co-operative would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
We are purchasing a house in Broughton. I might seem paranoid but how we can trust a lawyer? At some point we will need to send funds into their account. What protection do we have from them run away with our deposit?
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.
What is the difference between a licensed conveyancer and conveyancing solicitor in Broughton
Two types of professional can execute conveyancing in Broughton namely licenced conveyancers or solicitors. The two can provide the legal services that you need to complete the sale or purchase of property. Both are duty bound to handle Broughton conveyancing to the same quality and guidelines so you may be sure that your conveyancing will be properly conducted and that the requisite steps should be suitably adhered to.
I am due to exchange contracts on my apartment. I had a double glazing fitted in May 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Co-operative are being pedantic. The Broughton solicitor who is on the Co-operative conveyancing panel is recommending indemnity insurance as a solution but Co-operative are requiring a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Broughton differ for new build properties?
Most buyers of new build premises in Broughton approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is finished. This is because developers in Broughton typically purchase 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 conveyancing solicitors 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 Broughton or who has acted in the same development.
How do I locate a Broughton law firm on the Chelsea Building Society conveyancing panel? I have a car and am willing to travel upto 20miles to meet the solicitor.
Feel free to make use of the facility on this page. Please select a bank and your location and you will see a number of Broughton conveyancing lawyers located nearest you. We have listed some Broughton conveyancing firms towards the end of this page and you can telephone them to check whether they are on the Chelsea Building Society panel