Our conveyancer has uncovered a a legal deficiency with the lease for the apartment we are buying in Ponteland. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our property lawyer has advised that he must ensure that the mortgage company is happy with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook specifications. 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.
Is it the case that all Ponteland conveyancing solicitors on the UBS conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the UBS approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. The majority of mortgage companies do permit licenced conveyancers on their panel and in such a situation the organisation would be regulated by the Council of Licensed Conveyancers.
I am currently in the process of buying my council flat in Ponteland. I have a mortgage agreed with Clydesdale. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.
I was told two weeks ago that my mortgage has been agreed to by Principality. Is it usual for Principality to only issue the offer once my solicitor in Ponteland is approved on their conveyancing panel? Principality have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Principality to deal with your lawyer's application to be on the Principality conveyancing panel. There's no guarantee that your solicitor will be accepted.
What can a local search tell me about the property my wife and I purchasing in Ponteland?
Ponteland conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company for instance PSG The local search is essential in every Ponteland conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your property. The search should supply data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
What tools are available to search for a Ponteland law firm on the Barnsley Building Society conveyancing panel? I am a keen cyclist and am happy to travel upto 10kilometers to meet the solicitor.
Feel free to make use of the search on this page. Please choose the lender and your location and you will see a number of Ponteland conveyancing lawyers located nearest you. We have detailed some Ponteland conveyancing firms at the bottom of this page and you can telephone them to see whether they are on the Barnsley Building Society member panel
My brother has recommend that I instruct his lawyers for conveyancing in Ponteland. Should I find my own property lawyer?
There are no two ways about it the best way to choose a conveyancing solicitor is to seek feedback from friends or relatives who have actually previously instructed the firm that you are are thinking of instructing.