Our conveyancer has discovered a a problem with the lease for the apartment we are purchasing in Cheadle. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that he must be satisfied that the bank is content with this solution. Who is the client here, us or the bank?
Regardless of the fact 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 requirements. You and the mortgage company are the client. The appropriate lender specifications must be adhered to.
Is it the case that all Cheadle solicitor firms on the Aldermore conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Aldermore conveyancing panel they would need to be overseen by the SRA. Many mortgage companies do list licenced conveyancers on their panel in which case such firms would be regulated by the CLC.
About to purchase house in Cheadle. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Clydesdale conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Cheadle property lawyer is on the Clydesdale conveyancing panel.
Our offer on a semi in Cheadle has been agreed to, the owners do nevertheless have a connected purchase. The sellers have placed an offer on a property, however it’s not been accepted yet, and have viewings of other flats in the pipeline. I have selected a high street conveyancing solicitor in Cheadle. What should be my next step? At what stage should I apply for the mortgage with Barclays?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of one thousand pounds, then valuation, Cheadle conveyancing search costs, etc). The first course of action is to ensure that your solicitor is on the Barclays conveyancing panel. As to the subsequent stages this very much depends on the circumstances of your transaction, motivation for the property and on the state of the market. During a buoyant market the majority of buyers will apply for a home loan with Barclays and arrange for the valuation and only if it was satisfactory would they ask their solicitor to move forward with searches.
My wife and I are downsizing from our house in Cheadle and according to the buyers it appears that there is a risk of it being built on contaminated land. A high street Cheadle conveyancer would know that there is no such problem. For the life of me I don't know why the buyers used an online conveyancing firm rather than a conveyancing solicitor in Cheadle. Having lived in Cheadle for three years we know of no issue. Do we get in touch with our local Authority to get confirmation that there is no issue.
It would appear that you have a conveyancing solicitor already. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I own a terraced Victorian property in Cheadle. Conveyancing solicitor represented me and Clydesdale. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the exact same address. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cheadle and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with your conveyancing lawyer who carried out the work.
My husband and I are new to the buying process - agreed a price, yet the estate agent told us that the vendor will only proceed if we appoint their preferred conveyancers as they need an ‘expedited deal’. We would rather use a family conveyancer with experience of conveyancing in Cheadle
We suspect that the owner is not behind this request. Should the owner desire ‘a quick sale', turning down a motivated purchaser is going to damage their objectives. Bypass the agents and go straight to the owners and make sure they comprehend that (a)you are genuine purchasers (b)you are ready to go, with finances in place © you have nothing to sell (d) you wish to move quickly (e)but you intend to instruct your own,trusted Cheadle conveyancing solicitors - not the ones that will earn their negotiator at the agency a commission or hit his conveyancing figures set by senior management.