My conveyancer has identified a defect with the lease for the property we are buying in Kirkby Lonsdale. The seller’s lawyers have put forward title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must ensure that the bank is willing to move forward with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your conveyancer 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 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.
Are there restrictive covenants that are commonly picked up during conveyancing in Kirkby Lonsdale?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Kirkby Lonsdale. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the input of my in-laws I had a survey completed on a property in Kirkby Lonsdale before appointing solicitors. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some mortgage companies will refuse to issue a loan on such a house.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to call us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Kirkby Lonsdale. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Kirkby Lonsdale to see if the conveyancing costs will increase in light of this.
Am I better off to instruct a Kirkby Lonsdale conveyancing solicitor based in the location that I am purchasing? An old friend can deal with the legal formalities but they are based approximately 350kilometers drive away.
The primary upside of using a local Kirkby Lonsdale conveyancing practice is that you can attend the office to execute paperwork, present your ID and apply pressure on them if necessary. They will also have local intelligence which is a plus. However it's more important to get someone that will do a good and efficient job. If if people you trust instructed your friend and on the whole were happy that must trump using an unfamiliar Kirkby Lonsdale conveyancing solicitor solely due to them being based in the area.
My parents cant seem to find their Kirkby Lonsdale property on the HMLR site. They have a vague recollection back in the 70’s when they bought the property there were complications concerning Kirkby Lonsdale not being identified on some systems.
Almost all properties in Kirkby Lonsdale should show up. Have you tried a search to simply the postcode. Normally it should identify all the premises within the postcode. Assuming the property is recorded it will be there with a title number. Where they bought 50 years ago it's conceivable it may be unregistered. The property could still be revealed but with the title number identified as 'na'. In this scenario you will need to find the original title deeds which could be with your parent’s bank.