I am obtaining a offer of a home loan from Lloyds. I intend to retain the legal services of a Licensed Conveyancer in Northamptonshire. Does the Lloyds Conveyancing panel exclude Licensed Conveyancers?
The Lloyds approved solicitor list is, like many other lenders, associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
My solicitor has discovered a a problem with the lease for the apartment we are buying in Northamptonshire. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor has advised that he must check that the lender is content with this solution. Are we the client or is the lender?
Even though you have a mortgage offer from the lender does not mean to say that the property will meet their specifications 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.
I am buying a house and need a conveyancing solicitor in Northamptonshire who is on the National Westminster Bank approved. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for National Westminster Bank in certain locations such as Northamptonshire. We dont recommend any particular firm.
I am close to exchanging contracts on the sale of our house in Northamptonshire and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. A high street Northamptonshire conveyancer would know that there is no such problem. It does beg the question why the purchasers are using a web based conveyancing firm rather than a conveyancing solicitor in Northamptonshire. We have lived in Northamptonshire for six years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain confirmation that there is no issue.
It would appear that you have a conveyancing solicitor already. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I have been on the look out for a flat up to £305k and found one near me in Northamptonshire I like with a park and transport links in the vicinity, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Northamptonshire for this price, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a home loan the remaining unexpired lease term will be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.