Our conveyancer has discovered a a problem with the lease for the flat we are buying in Little Bromwich. The seller’s lawyers have offered title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancing practitioner has advised that he must ensure that the bank is happy 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 mortgage company are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook provisions. 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 conveyancing practitioner will have no choice but to discontinue acting for you.
My grandmother passed away last year and as sole heir and executor I was left the house in Little Bromwich. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Principality, pay off the mortgage. Is this possible?
Given you intend to refinance then Principality will require that you use a conveyancer on the Principality conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Principality conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Principality mortgage is registered as a charge at the Land Registry.
I decided to have a survey carried out on a property in Little Bromwich in advance of retaining solicitors. I have been told that there is a flying freehold element to the property. Our surveyor has said that some lenders may refuse to grant a mortgage on a flying freehold property.
It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. If you contact us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Little Bromwich. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Little Bromwich to see if the conveyancing will be more expensive.
I'm refinancing my existing property to a buy to let mortgage with Barnsley Building Society and intend to use the remaining equity as a down payment on another house. The neighborhood we are looking at is Little Bromwich. Will your conveyancers be able to act for both sets of mortgage companies and link together the two deals?
Make use of our comparison tool on this site to ensure that the conveyancers are approved by both lenders. On the basis that they are the lawyer should be able to simultaneously deal with the two transactions but you should have a chat with you solicitor and make clear your expectations and needs.
We are a fortnight into a freehold purchase having been directed to a firm by the local agent to perform conveyancing in Little Bromwich. I am not happy. Could you help me find new conveyancers?
A conveyancer would need to be very bad to suggest replacing them. Has the mortgage offer been generated? In the event that it has you will need to advise them of the new contact details and ensure the mortgage documents are re-sent. Your conveyancer needs to be on the banks panel to avoid escalating fees and delays. So that should be your starting point. The search tool will assist you in finding a bank approved conveyancer for your conveyancing in Little Bromwich