My lawyer has uncovered a defect with the lease for the flat we are purchasing in Silsoe. The other side have offered defective title insurance as a workaround. We are content with insurance and will pay for it. Our property lawyer says that he must ensure that the mortgage company is happy with this solution. Who is the client here, us or the lender?
Notwithstanding that you have a mortgage offer from the mortgage company 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 mortgage company are the client. The appropriate lender specifications have to be complied with.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Is the implication that I have to appoint their panel conveyancer as I would prefer to use a high street conveyancing solicitor in Silsoe?
Do check but the the probability is that allocate you one of their panel lawyers where you accept the "fee-free" incentive. Speak to the bank to determine if they allow a cash alternative. In the past a few mortgage companies offered a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor near Silsoe.
I have today made my last payment due on my mortgage with Kent Reliance. I assume I don't need a Silsoe conveyancing practitioner on the Kent Reliance panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Kent Reliance mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Kent Reliance mortgage from the register. Kent Reliance, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Kent Reliance has sent the Land Registry the discharge electronically, and
- Kent Reliance has instructed the Land Registry to do so
I am due to exchange contracts on my flat. I had a double glazing fitted in September 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Yorkshire BS are being problematic. The Silsoe solicitor who is on the Yorkshire BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Yorkshire BS are requiring a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I was told four weeks ago that my mortgage has been agreed to by HSBC. Is it usual for HSBC to only issue the offer once my solicitor in Silsoe is approved on their conveyancing panel? HSBC have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for HSBC to deal with your lawyer's application to be on the HSBC conveyancing panel. There's no guarantee that your solicitor will be accepted.
I know that there are debates on Chancel Insurance on online forums. Do I need this when buying a residence in Silsoe? or I am told that there is historic law that means some homeowners living in a parish church boundary will be compelled to pay for maintenance to the chancel within the church. Is this suitable for conveyancing in Silsoe?
Unless a previous purchase of the property took place after 12 October 2013 you could take it that lawyers delivering conveyancing in Silsoe to continue to advocate a chancel search and or insurance against a claim.
We are contemplating appointing an online lawyer rather than a Silsoe conveyancing firm. Should I ‘stay local’?
Advantages do exist in having the opportunity to attend a local Silsoe conveyancing solicitor such as
- signing papers and and when necessary
- getting face-to-face explanations of things that need explaining
- the ability to raise concerns if matters are not going as expected
When comparing estimates, look out for hidden extras. Most decent Silsoe high street solicitors give an all-inclusive price. Often online agents seem to offer cheap fees, yet have hidden 'extras' in the in the terms and conditions.