My conveyancer has discovered a defect with the lease for the flat we are purchasing in Torpoint. The other side have offered defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer has advised that he must ensure that the lender is willing to move forward with this solution. Who is the client here, us or the bank?
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 solicitor 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 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 conveyancing practitioner will have no choice but to discontinue acting for you.
We hope to to purchase with Norwich and Peterborough Building Society. We have called around locally but cant to find a Torpoint conveyancing firm on the Norwich and Peterborough Building Society panel. Please you assist?
Please do make use of the search tool on this page. Please choose the mortgage company and type Torpoint or your preferred area and you will see a number of lawyer based in Torpoint or nearest you.
I acquired my apartment on 3 May and the transaction details are still not on the land registry website. Should I be concerned? My conveyancing solicitor in Torpoint said it would be dealt with in less than a month. Are transfers in Torpoint uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Torpoint registration formalities. As opposed to being determined by geographic area, timescales can adjust depending on the party submitting the application, whether there are errors and whether the Land registry communicate with any third persons or bodies. As of today in the region of 80% of submission are fully addressed within two weeks but occasionally there can be extensive delays. Registration occurs once the buyer is living at the premises therefore an expedited registration is not always top priority but where there is a degree of urgency associated with the registration then you or your solicitor could contact the land registry and explain the circumstances.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Torpoint. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Torpoint
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants.
What makes your site different to alternative web based conveyancing brokers when it comes to conveyancing in Torpoint?
At this site receive a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the issues of your conveyancing in Torpoint. Unlike many estate agents and brokerage sites we do not charge firms a commission if you instruct them for your conveyancing in Torpoint