Our conveyancer has discovered a defect with the lease for the apartment we are buying in Keswick. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer says that he must be satisfied that the mortgage company is willing to move forward with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company 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 lawyer will have no choice but to discontinue acting for you.
In researching mumsnet.com for a recommended solicitor in Keswick, most say that I must look for a CQS assured lawyer. What is CQS?
Keswick Conveyancing Quality Scheme solicitors have achieved certification by the law Society The Law Society introduced CQS to promote high standards in the home legal process. CQS helps home movers to identify solicitor firms that provide a quality residential conveyancing. Keswick is one of locations in England and Wales in which accredited firms are based. The scheme obliges solicitors to undergo a strict assessment, compulsory training, self-reporting, spot checks and yearly assessments in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Association of British Insurers.
I am purchasing a detached bungalow in Keswick. The intention is to convert the garage to a playroom at the house.Will the conveyancing process involve enquiries to see if these works are permitted?
Your property lawyer should check the deeds as conveyancing in Keswick will occasionally identify restrictions in the title deeds which prohibit categories of alterations or require the consent of a 3rd party. Many additions need local authority planning permissions and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be wise to check these things with a surveyor before you commit yourself to a purchase.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Keswick solicitor on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
Intending to buy a maisonette in Keswick. 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 Leeds Building Society 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 Keswick conveyancing practitioner is on the Leeds Building Society conveyancing panel.
I have been on the look out for a leasehold apartment up to £195,000 and identified one close by in Keswick I like with a park and railway links nearby, the downside is that it only has 52 years unexpired on the lease. There is not much else in Keswick in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the remaining unexpired lease term may be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
In searching the web for the term cheap conveyancing in Keswick it shows results of numerous solicitorsin the area. With so much choice what is the best way to find the suitable solicitor for purchase transaction?
The preferential way of finding a suitable conveyancer is via trusted testimonial, so seek the guidance of friends and family who have bought a property in Keswick or the reputable estate agent or financial adviser. Fees for conveyancing in Keswick vary, so it's a good idea to obtain a minimum of three estimates from varying types of property lawyers. Make sure that you know that the fees are fixed.