My solicitor has discovered a a legal deficiency with the lease for the apartment we are purchasing in Dinnington. The other side have offered defective title insurance as a solution. We are happy with insurance and will pay for it. Our property lawyer says that he must be satisfied that the lender is willing to move forward with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank 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.
As someone not used to conveyancing in Dinnington what’s the number one tip you can give me concerning the ownership transfer in Dinnington
You may not hear this from too many lawyers but conveyancing in Dinnington or throughout England and Wales is often a confrontational process. Put another way, when it comes to conveyancing there exists lots of opportunity for confrontation between you and other parties involved in the transaction. E.g., the seller, property agent and on occasion the mortgage company. Choosing a lawyer for your conveyancing in Dinnington is a critical decision as your conveyancer is your adviser, and is the ONE person in the process whose responsibility is to protect your legal interests and to keep you safe.
There is a definite creep in the "blame" culture- someone has to be at fault for the process being so protracted. You your first instinct should be to trust your conveyancer ahead of the other players when it comes to the legal transfer of property.
I purchased a renovated Edwardian property in Dinnington. Conveyancing solicitor represented me and Nationwide Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold with the matching address. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Dinnington 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 buyers. You can also question the position with the conveyancing practitioner who conducted the conveyancing.
I opted to have a survey completed on a property in Dinnington ahead of appointing solicitors. I have been informed that there is a flying freehold aspect to the house. The surveyor advised that some mortgage companies tend refuse to grant a mortgage on this type of premises.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Dinnington. Conveyancing may be slightly more expensive based on your lender's requirements.
Taking into account that I will soon spend 450k on a two bedroom apartment in Dinnington I would like to talk to a conveyancer about mytransaction prior to appointing the firm. Is this something that you can arrange?
We could not agree more - we would be happy to talk to you we do not take any clients on without you speaking to the conveyancer who will be conducting your property ownership legalities in Dinnington.There is no ‘factory style conveyancing’ - every client is an important person, not a matter reference. The practices that we put you in touch with believe that the fees you are calculated and presented to you for residential conveyancing in Dinnington should be the figure that you are charged.