Our conveyancer has discovered a a legal deficiency with the lease for the property we are buying in Silsworth. The other side have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our solicitor says that he must ensure that the mortgage company is happy with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank 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 solicitor will have no choice but to discontinue acting for you.
Does a directory service exist listing Clydesdale panel solicitors in Silsworth on the Council of Mortgage Lender’s Website?
No. There is no such tool on the CML or Building Society Association websites. A small selection of lending institutions make their panel listings open the public over the internet. Where you are seeking to appoint a Silsworth conveyancer on the Clydesdale please make the most of our facility.
My fiancee and I are at the point of looking at flats in Silsworth and I am now considering a potential offer. Should I already have a conveyancer appointed at this stage? I will be getting a mortgage with Kent Reliance.
It would be wise to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. Given that you are seeking a mortgage with Kent Reliance, make sure you remember to check that your lawyer is on the Kent Reliance conveyancing panel.
I have a mortgage with Skipton for my property in Silsworth. Conveyancing was finalised months 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 buy-to-let mortgage or inform Skipton?
Your original mortgage agreement with Skipton will provide that you need their approval prior to renting your property as this is likely to be a breach of Skipton’s mortgage conditions. It may be that Skipton will allow you to rent 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 Skipton directly. It should not be necessary to do this via a Skipton conveyancing panel solicitor.
We are buying a house and the lawyer has raised the issue of Chancel Repair for which the house may be obligated to pay given it’s proximity to the area of such a church. She has suggested insurance. Is this strictly necessary for conveyancing in Silsworth
Unless a prior acquisition of the premises completed after 12 October 2013 you may take it that conveyancing practitioners delivering conveyancing in Silsworth to continue to advocate a chancel search and or chancel repair liability insurance.
four months have gone by following my purchase conveyancing in Silsworth concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Is it best to appoint a Silsworth conveyancing solicitor in close proximity to the house I am hoping to buy? An old friend can deal with the legal formalities but they are based 300miles drive away.
The benefit of a local Silsworth conveyancing practice is that you can pop in to sign paperwork, deliver your identification documents and apply pressure on them if necessary. They will also have local intelligence which is a bonus. However it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and the majority were happy that should outweigh using an unknown Silsworth conveyancing lawyer solely due to them being local.