My conveyancer has uncovered a a legal deficiency with the lease for the apartment we are purchasing in Clynderwen. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer says that he must be satisfied that the lender is willing to move forward with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company 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 solicitor will have no choice but to discontinue acting for you.
Completed the sale of my flat in Clynderwen last July yet the purchaser is calling me to moan that their conveyancer needs to hear from myconveyancer. What should have happened following completion?
Following your disposal your conveyancer is committed to deliver the transfer deeds and all additional paperwork to the purchaser's solicitors. Depending on the transaction, your lawyer must also send confirmation that the home loan has been discharged to the purchasers lawyers. There are no post completion formalities peculiar conveyancing in Clynderwen.
My wife and I are buying a flat in Clynderwen. It might be a silly question but how we can trust a solicitor? At some point we will need to send our life savings into their account. What is the protection we have from them run away with our money?
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.
I am buying a end of terrace house in Clynderwen. The intention is to carry out an extension to the side at the house.Will the conveyancing process include enquiries to ascertain if these works are permitted?
Your conveyancer should review the deeds as conveyancing in Clynderwen will on occasion reveal restrictions in the title deeds which prohibit categories of changes or require the consent of another owner. Certain works need local authority planning permissions and approval in compliance with building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be sensible to check these things with a surveyor prior to committing yourself to a purchase.
I currently have a mortgage with Barclays for my property in Clynderwen. Conveyancing was finalised months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Barclays?
You must advise Barclays in advance of renting your property as this is likely to be a breach of Barclays’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays directly. You need not do this via a Barclays conveyancing panel firm.
My relative suggested that where I am buying in Clynderwen I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Clynderwen conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about Clynderwen around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Clynderwen Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Clynderwen Education with plans and statistics, Local Amenities and other useful information about Clynderwen.
The estate agent has sent us the confirmation of our purchase of a new build flat in Clynderwen. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Clynderwen
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?