Our lawyer has identified a defect with the lease for the property we are purchasing in Barrow In Furness. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will pay for it. Our property lawyer says that he must be satisfied that the lender is happy with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions. 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.
I am the registered owner of a freehold house in Barrow In Furness but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Barrow In Furness and has limited impact for conveyancing in Barrow In Furness but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I am considering mortgaging my flat in Barrow In Furness, does my lawyer have to be on the HSBC Conveyancing panel?
There is nothing to stop you using your solicitor, but HSBC will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
I'm remortgaging my current house to a BTL loan with Coventry Building Society and intend to use the remaining equity as a deposit on a second house. The area we are interested in is Barrow In Furness. Will your lawyers be able to act for both sets of mortgage companies and link together the conveyances?
Do use our comparison tool on this page to be sure that the conveyancers are on the relevant lender panels. Assuming that they are your lawyer should be able to simultaneously deal with the two transactions but you should talk with you solicitor and communicate your expectations and requirements.
I need to instruct a conveyancing solicitor in Barrow In Furness for my remortgage. Is it possible to review a solicitor's record with the profession’s regulator?
You may find published Solicitor Regulator Association (SRA) decisions resulting from investigations started on or after Jan 2008. Go to Check a solicitor's record. To find information about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, use +44 (0)121 329 6800. The regulator may monitor telephone calls for training requirements.
I require the services of a lender panel solicitor in Barrow In Furness. Can you assist?
It is not clear why you need a Barrow In Furness panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the mortgage company to find out which solicitors in Barrow In Furness are on their panel . If you do find such a firm in Barrow In Furness not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site