Our lawyer has uncovered a defect with the lease for the flat we are buying in Mevagissey. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer says that he must check that the bank is content with this solution. Are we the client or is the bank?
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 conveyancing practitioner 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 lawyer will have no choice but to discontinue acting for you.
My uncle passed away six months ago and as sole heir and executor I was left the house in Mevagissey. The house had a relatively small loan left on it of around £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Kent Reliance, pay off the mortgage. Is this allowed?
If you intend to refinance then Kent Reliance will require that you use a conveyancer on the Kent Reliance 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 Kent Reliance 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 Kent Reliance mortgage is registered as a charge at the Land Registry.
I am selling my property. My former conveyancers has retired. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Mevagissey if that makes things easier.
You should use our search tool to help you choose a solicitor for your conveyancing in Mevagissey. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
In scouring the world wide web for the words conveyancing in Mevagissey it brings up many property lawyersin the vicinity. How do I determine which is the right solicitor for purchase transaction?
The best way of finding a suitable conveyancer is through a trusted referral, so enquire of friends and family who have purchased a property in Mevagissey or a reputable estate agent or financial adviser. Charges for conveyancing in Mevagissey differ, so it's sensible to request at least four quotes from varying types of property lawyers. Dont forget to clarify that the costs are assured not to escalate.
Having had my offer accepted I require leasehold conveyancing in Mevagissey. Before diving in I require certainty as to the remaining lease term.
Assuming the lease is registered - and most are in Mevagissey - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Mevagissey Conveyancing for Leasehold Flats - A selection of Queries before buying
What is the name of the managing agents? Be sure to investigate if there is anything that is prohibited in the lease. By way of example some leases prohibit pets being allowed in in a block in Mevagissey. If you love the propertyin Mevagissey but your dog can’t move with you then you will be presented with a difficult compromise. Is there a share of the freehold?