Our solicitor has discovered a defect with the lease for the flat we are purchasing in Northwood. The seller’s lawyers have suggested title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancing practitioner has advised that he must check that the lender is happy with this solution. Who is the client here, us or the bank?
Even though you have a mortgage offer from the bank 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 conditions. You and the lender are the client. The appropriate lender requirements have to be complied with.
Having sold my house in Northwood last February but my buyer keeps calling daily complaining that his conveyancer is waiting to hear from myconveyancer. What should my lawyer have done now that I have sold?
Following your sale your lawyer is duty bound to send the transfer deeds and all of the paperwork to the buyer’s conveyancer. Depending on the transaction, your solicitor must also send confirmation that the legal charge in favour of the lender has been paid off to the purchasers lawyers. There is unlikely to be post completion formalities peculiar conveyancing in Northwood.
How can we know in advance if a Northwood conveyancing solicitor on the RBS panel is any good?
When it comes to conveyancing in Northwood getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer handling your conveyancing.
I am expecting a OIP from HSBC this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do HSBC recommend any Northwood solicitors on the HSBC conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Northwood solicitors independently although you'll need to choose one on the HSBC conveyancing panel. The solicitor represents both you and HSBC through the process.
The mortgage over my property is with Clydesdale for my property in Northwood. Conveyancing was finalised a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Clydesdale?
Clydesdale must be informed of your intention in advance of letting out your property as this is likely to be a breach of Clydesdale’s mortgage conditions. It may be that Clydesdale will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. You need not do this via a Clydesdale conveyancing panel firm.
I completed on my home on 13 October and the transaction details are still not registered. Need I be worried? My conveyancing solicitor in Northwood said it would be registered in less than a month. Are titles in Northwood uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Northwood registration formalities. Rather than based on location, timeframes can differ depending on who lodges the application, whether it is in order and whether the Land registry have to notify any third persons or bodies. Currently approximately 80% of such applications are fully dealt with in less than three weeks but occasionally there can be longer hold-ups. Historically registration occurs after the new owner has moved in to the property so an expedited registration is not always primary concern yet if it is urgent that the the registration takes place urgently then you or your solicitor should communicate with the Registry to express the reasoning for an expedited registration.
I opted to have a survey carried out on a house in Northwood before retaining lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor has said that some banks may refuse to give a loan on such a home.
It depends who your proposed lender is. Lloyds has different requirements for example to Halifax. If you call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Northwood. Conveyancing may be slightly more expensive based on your lender's requirements.