My lawyer has discovered a defect with the lease for the flat we are buying in Hornsea. The other side have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our property lawyer has advised that he must ensure that the lender is willing to move forward with this solution. Are we the client or is the bank?
Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the bank are the client. These conveyancing instructions must be adhered to.
This question may be naive but I am new to the house moving as FTB of a ground floor flat in Hornsea. Do I receive the keys to the house on completion from my solicitor? If so, I will use a local conveyancing solicitor in Hornsea?
There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the completion advance to the vendor’s lawyers, and shortly after the monies have arrived, you will be invited to collect the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.
How can we tell if a Hornsea conveyancing solicitor on the Leeds Building Society panel is any good?
When it comes to conveyancing in Hornsea getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the solicitor carrying out your conveyancing.
I am due to exchange contracts on my house. I had a double glazing fitted in January 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, TSB are being a right pain. The Hornsea solicitor who is on the TSB conveyancing panel is saying indemnity insurance will be fine but TSB are insisting on a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Hornsea is where the house is located. Is there any guidance you can give?
Flying freeholds in Hornsea are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hornsea you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hornsea 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.
Hoping to buy a property located in Hornsea and I am already nervous. I couldn't find anything specific about Hornsea. Conveyancing will be needed in due course but do you know about the Hornsea area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Hornsea. In the meantime here are some basic statistics that we found
We are purchasing a 2 bedroom first floor flatin Hornsea with a home loan from a lender. We like our lawyer in Hornsea but our mortgage company advise he's not listed on their "panel". Apparently we need to choose one of the our lender panel firms or keep our Hornsea solicitor and pay for one of their panel ones to represent our bank. This seems very unfair; is there anything we can do?
Unfortunately,no. The bank mortgage issued is subject to its terms and conditions, one of which will be that lawyers will on the bank's conveyancing panel. in the past, most banks had open panels, including most conveyancing solicitors in Hornsea : a mortgagee could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for your bank.