My lawyer has uncovered a defect with the lease for the property we are purchasing in Windsor. The other side have suggested title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancer has advised that he must be satisfied that the mortgage company is content with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your property 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 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.
What is the difference between a licensed conveyancer and conveyancing solicitor in Windsor
Two types of professional can do conveyancing in Windsor namely CLC regulated conveyancers or solicitors. Both professionals administer the legal services that required to complete the disposal or purchase of property. They are both required to execute Windsor conveyancing on similar quality and guidelines so you can be safe in the knowledge that your conveyancing will be professionally carried out and that the requirements and steps will be suitably taken.
Forgive me if this question is silly but I am new to the process as a 1st time purchaser of a ground floor flat in Windsor. Do I receive the keys to the property on the completion date from my solicitor? If so, I will use a local conveyancing solicitor in Windsor?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the seller's lawyers, and shortly after the monies have arrived, you will be invited to collect the keys from the Estate Agents and start moving into the property. Usually this occurs early afternoon.
I have today made my last payment due on my mortgage with Bank of Ireland. I assume I don't need a Windsor lawyer on the Bank of Ireland panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
The deeds to our property are lost. The conveyancers who conducted the conveyancing in Windsor 4 years ago have long since closed. What are my next steps?
In today’s world there are duplicates made of almost everything, and your lawyer should know exactly where to locate all the relevant documentation so you can purchase or sell your property without a hitch. If duplicates are not available, your conveyancer may be able to put in place insurance or indemnities protecting you against future claims on the property.
How does conveyancing in Windsor differ for new build properties?
Most buyers of new build premises in Windsor approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is finished. This is because developers in Windsor tend to purchase the site, 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 Windsor or who has acted in the same development.
Is it best to use a Windsor conveyancing solicitor who is local to the property I am purchasing? I have an old university friend who can deal with the legal formalities however her office is over three hundred kilometers drive away.
The benefit of a high street Windsor conveyancing firm is that you can attend the office to execute documents, hand in your identification documents and apply pressure on them where appropriate. Having local Windsor know how is a benefit. 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 unfamiliar Windsor conveyancing lawyer solely due to them being based in the area.