My lawyer has identified a a problem with the lease for the apartment we are purchasing in Keyworth. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor 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 mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your property lawyer 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 conveyancer will have no choice but to discontinue acting for you.
As someone unfamiliar with the Keyworth conveyancing process what is the number one tip you can give me for the house moving process in Keyworth
Not many law firms or advisers will tell you this but conveyancing in Keyworth and elsewhere in Nottinghamshire is often a confrontational process. In other words, when it comes to conveyancing there exists an abundance of opportunity for friction between you and other parties involved in the house moving process. For example, the vendor, property agent and even potentially a lender. Choosing a lawyer for your conveyancing in Keyworth is a critical decision as your conveyancer is your adviser, and is the ONE party in the process whose interest is to act in your legal interests and to protect you.
We are witnessing a distinct ongoing adversarial element to conveyancing- someone has to be blamed for the process being so protracted. You should always trust your lawyer above the other parties when it comes to the legal transfer of property.
Will my solicitor be making enquiries about flooding during the conveyancing in Keyworth.
The risk of flooding is if increasing concern for solicitors dealing with homes in Keyworth. Plenty of people will purchase a property in Keyworth, completely aware that at some time, it may be flooded. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, but there are a various searches that can be undertaken by the buyer or by their conveyancers which should figure out the risks in Keyworth. The standard property information forms given to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) includes a usual inquiry of the seller to determine whether the premises has suffered from flooding. In the event that the premises has been flooded in past which is not disclosed by the vendor, then a purchaser may bring a claim for damages stemming from an misleading reply. A buyer’s lawyers may also carry out an environmental search. This should indicate whether there is a recorded flood risk. If so, more detailed inquiries will need to be made.
The deeds to my property can not be found. The conveyancers who handled the conveyancing in Keyworth 4 years ago have long since closed. What do I do?
Gone are the days when you need to have the physical original deeds to evidence that you own the land or premises, as the Land Registry hold details of all registered land or property electronically.
My dad completed his conveyancing in Keyworth 7 years ago. He has got wed, widowed and in recent months got remarried. He will be selling the apartment next winter. I suspect that he will simply be need to supply copies of the marriage certificates to the property lawyer however he is concerned it will hold up the conveyancing. Should he appoint a property lawyer to update the land title details for the house?
You are not required to bring up to date the register on the basis that you have the proof needed to demonstrate how the name change resulted.
Any buyer’s conveyancer will check the registered details and require evidence by way of proof of the name change for example marriage certificates.