Our solicitor has identified a a problem with the lease for the property we are purchasing in Aldwych. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our property lawyer says that he must be satisfied that the lender is happy with this solution. Are we the client or is the mortgage company ?
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 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 property lawyer will have no choice but to discontinue acting for you.
Is it necessary during the course of the conveyancing process to visit the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Aldwych so that I can attend their offices if necessary.
Whereas this was necessary 15 years ago, almost all banks no longer need their conveyancing panel solicitor to witness the borrowers signature. It will still be necessary for you to provide identification documents and there are still manifest advantages to using a local solicitor, in your situation a conveyancing solicitor in Aldwych.
I am buying a property in Aldwych. 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 comply with the formal instructions outlined in Part two of UK Finance Lenders’ Handbook for Skipton. The CML Handbook includes minimum provisions for solar panel roof-space leases, and lawyers are required to report to Skipton where a lease does not satisfy these requirements. The provisions relate to the installation of panels on properties in England and Wales and is not restricted to Aldwych.
Completion of my purchase has taken place for my property in Aldwych. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I am selling my apartment. I had a double glazing fitted in December 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Barclays are being a right pain. The Aldwych solicitor who is on the Barclays conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Barclays are requiring a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
four months have elapsed since my purchase conveyancing in Aldwych took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. 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 residence 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.
How does conveyancing in Aldwych differ for new build properties?
Most buyers of new build premises in Aldwych approach us having been asked by the developer to exchange contracts and commit to the purchase even before the house is built. This is because house builders in Aldwych 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 conveyancers 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 accustomed to new build conveyancing in Aldwych or who has acted in the same development.
Is planning permission necessary to change a single dwelling into multiple appartments in Aldwych? This has been carried out to a property opposite to my home in Aldwych and was ignorant of it happening until after the works were done.
Planning consent is required for converting a single dwelling in Aldwych into flats but possibly not for converting back to single dwelling-house so, simply put, yes,a it is required.