My solicitor has identified a a problem with the lease for the property we are buying in Tedburn St Mary. The seller’s lawyers have suggested defective title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancing practitioner says that he must check that the mortgage company is content with this solution. Who is the client here, us or the mortgage company ?
Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their conditions 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 mortgage company are the client. The appropriate lender requirements have to be complied with.
I am purchasing a property in Tedburn St Mary. A rare aspect is that the roof has a solar panel. Skipton have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Skipton your lawyer must check the conveyancing instructions set out in Section 2 of UK Finance Lenders’ Handbook for Skipton. The Council of Mortgage Lenders’ Handbook includes minimum specifications for solar panel roof-space leases, and lawyers are required to report to Skipton where a lease does not comply with these requirements. The requirements relate to the installation of panels on properties in England and Wales and is not restricted to Tedburn St Mary.
My wife and I are in the throws of viewing apartments in Tedburn St Mary and I am about to put in an offer. Should I already have a conveyancing practitioner appointed at this point? I am planning to take a mortgage with HSBC.
It would be sensible to instigate 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 forward their details on to the EA. As you are getting a mortgage with HSBC, make sure you remember to check that your lawyer is on the HSBC conveyancing panel.
I have paid off my mortgage with HSBC. I assume I don't need a Tedburn St Mary conveyancer on the HSBC panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your HSBC 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 HSBC mortgage from the register. HSBC, 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 HSBC has sent the Land Registry the discharge electronically, and
- HSBC has instructed the Land Registry to do so
Are there restrictive covenants that are commonly picked up during conveyancing in Tedburn St Mary?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Tedburn St Mary. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Tedburn St Mary differ for new build properties?
Most buyers of new build or newly converted property in Tedburn St Mary come to us having been asked by the developer to sign contracts and commit to the purchase even before the residence is finished. This is because house builders in Tedburn St Mary usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Tedburn St Mary or who has acted in the same development.
What tools are available to identify a Tedburn St Mary law firm on the The Mortgage Works conveyancing panel? I am a keen cyclist and am willing to travel upto 10miles to meet the lawyer.
Feel free to make use of the facility on this website. Please select a lender and your location and you will see a number of Tedburn St Mary conveyancing lawyers located nearest you. We have detailed some Tedburn St Mary conveyancing firms at the bottom of this page and you can telephone them to check whether they are on the The Mortgage Works panel