My lawyer has identified a a problem with the lease for the apartment we are buying in Burry Port. The other side have suggested defective title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer has advised that he must check that the mortgage company is content with this solution. Are we the client or is the lender?
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 conveyancing practitioner 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 selling my home in Burry Port. Does my solicitor need to be on the Nottingham conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Nottingham conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Burry Port is the location of the property. Can you offer any assistance?
Flying freeholds in Burry Port are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Burry Port you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Burry Port 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.
What does commercial conveyancing in Burry Port cover?
Non domestic conveyancing in Burry Port incorporates a wide array of guidance, supplied by regulated solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
The conveyancing solicitors undertaking our conveyancing in Burry Port has forwarded papers to review that reveal that the land is unregistered with epitome documents. Is it not the case that all houses in Burry Port should be registered?
It is rare for premises in Burry Port not to be registered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Plenty of Burry Port conveyancing practitioners will be capable of dealing with this type of conveyancing but in the event that uncertainty prevails the conventional proposition these days seems to be for the vendor’s solicitor to register the title first and thereafter sell - this undoubtedly cause a protracted home move.