Our solicitor has uncovered a a legal deficiency with the lease for the flat we are buying in Lydiate and Melling. The seller’s lawyers have offered title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor has advised that he must check that the lender is happy with this solution. Are we the client or is the lender?
Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. These conveyancing instructions must be adhered to.
five months have elapsed following my purchase conveyancing in Lydiate and Melling took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing a new build house in Lydiate and Melling with the aid of help to buy. The sellers refused to budge the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep advised me not to tell my solicitor about this extras as it will adversely affect my mortgage with TSB. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Given that I will soon part with hundreds of thousands of pounds on a house in Lydiate and Melling I would like to talk to a solicitor regarding thehome move prior to appointing the firm. Is this something that you can arrange?
Absolutely - we would be pleased to talk to you we do not take any clients on without you liaising with the lawyer who will be carrying out your property ownership legalities in Lydiate and Melling.There is no ‘factory style conveyancing’ - each client is unique individual, not a file reference. The practices that we put you in touch with believe that the fees you are provided with for residential conveyancing in Lydiate and Melling should be the figure that you end up paying.
Do I cancel the direct debit for my mortgage with Aldermore as soon as a completion date for my home sale in Lydiate and Melling has been set?
No, you should keep meeting any mortgage payments to Aldermore until the mortgage is repaid from the proceeds of sale as part of your Lydiate and Melling conveyancing.