My conveyancer has uncovered a defect with the lease for the flat we are purchasing in Llangammarch Wells. The seller’s lawyers have suggested defective title insurance as a solution. We are content with insurance and will pay for it. Our lawyer has advised that he must ensure that the mortgage company is content with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for 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 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 lawyer will have no choice but to discontinue acting for you.
I require quick conveyancing in Llangammarch Wells as I am faced with pressure to complete in less than one month. A home loan is not required. Is it possible to decline from having conveyancing searches to save money and time?
As you are not taking a home loan you have the choice not to do searches although no solicitor would suggest that you don't. Drawing on years of experience of conveyancing in Llangammarch Wells the following are examples of issues that can crop up and therefore affect future mortgageability: Refused Planning Applications, Overdue Charges, Outstanding Grants, Road Schemes,...
I opted to have a survey carried out on a house in Llangammarch Wells prior to instructing lawyers. I have been advised that there is a flying freehold element to the property. The surveyor has said that some banks will not grant a loan on a flying freehold property.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. Should you wish to call us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Llangammarch Wells. Conveyancing may be slightly more expensive based on your lender's requirements.
How do I search for a Llangammarch Wells law firm on the Clydesdale conveyancing panel? I drive a motor bike and am willing to travel upto 25kilometers to meet the solicitor.
Feel free to make use of the facility on this page. Please choose the lender and your location and you will see a number of Llangammarch Wells conveyancing lawyers based on proximity. We have listed some Llangammarch Wells conveyancing firms at the bottom of this page and you can call them to see if they are on the Clydesdale panel
Is there a difference between surveying and conveyancing in Llangammarch Wells?
Conveyancing - in Llangammarch Wells or anywhere in England and Wales - is the legal term given to transferring legal title of property from one person to another. It involves the checking of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are intending to buy and will help you discover the condition of the building and, if there are problems, give you leverage for negotiating the buying price down or asking the vendor to remedy the defects before you complete your move.