Our solicitor has discovered a a problem with the lease for the flat we are buying in Stow on the Wold. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will pay for it. Our property lawyer has advised that he must be satisfied that the lender 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 lender does not mean to say that the property will meet their provisions 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 conditions have to be complied with.
What does my ID and proof of funds have anything to do with my conveyancing in Stow on the Wold? Is this really necessary?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the ID of the potential client they are dealing with prior to agreeing to accepting their conveyancing business. The Terms of Engagement that you are required to sign should reaffirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you are unwilling to supply ID verification documents, your lawyer would not be able to accept instructions from you.
I am in the process of refinancing my property in Stow on the Wold, does my lawyer need to be on the Skipton Solicitor panel?
In theory, you could use a solicitor that is not on the Skipton conveyancing panel, but Skipton would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Stow on the Wold?
There are many recorded licenced Conveyancers in Stow on the Wold and Solicitor firms in Stow on the Wold who provide Conveyancing services We would stress that the two are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. Both can conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I have a mortgage with Kent Reliance for my property in Stow on the Wold. Conveyancing has been completed a year ago. Should I wish 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 Kent Reliance?
You must advise Kent Reliance before renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance 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 Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel firm.
Principality have agreed my home loan in principle, my offer on a property in Stow on the Wold has been accepted, what are the next steps?
Your estate agent will want to know who your solicitors are (be sure the solicitors are on the lender’s panel). Contact Principality or the financial adviser and finish off any relevant documentation. Principality will instruct a valuer who will get in contact with the selling agent or seller to book an appointment. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Principality will issue the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Stow on the Wold.
How does the Landlord & Tenant Act 1954 affect my commercial premises in Stow on the Wold and how can you help?
The particular law that you refer to gives security of tenure to commercial tenants, giving them the legal entitlement to apply to court for a continuation of occupancy at the end of an expired lease. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Stow on the Wold is one of our numerous areas of the UK in which our lawyers are based
I need to instruct a conveyancing lawyer in Stow on the Wold for my house move. Can I check a firm’s complaints history with the profession’s regulator?
Anyone can search for published Solicitor Regulator Association (SRA) decisions arising from investigations started on or after Jan 2008. Visit Check a solicitor's record. To find information Pre 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The regulator sometimes monitor call for training requirements.