My conveyancer has uncovered a defect with the lease for the apartment we are buying in Brown Edge. 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 lender is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their requirements 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 mortgage company are the client. The appropriate lender specifications have to be complied with.
We note that you have a post code search directory listing firms on the Nottingham conveyancing panel. Do firms pay you a commission if I instruct them for our own conveyancing in Brown Edge?
We are a listing service only for law firms wishing to communicate if they are on the Nottingham conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Brown Edge.
The Brown Edge conveyancing lawyers that I appointed last week on my purchase in Brown Edge have without warning shut down. I only went with them because I needed a firm on the Santander conveyancing panel and my preferred Brown Edge lawyer was not. I gave my credit card details for them to take £195 for searches. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Santander conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to assist.
It has been four months following my purchase conveyancing in Brown Edge concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Hoping to buy a property located in Brown Edge and I am already nervous. I couldn't find anything specific about Brown Edge. Conveyancing will be needed in due course but do you know about the Brown Edge area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Brown Edge. In the meantime here are some basic statistics that we found