My husband and I are intent on buying a maisonette in Blackfen. My property lawyer is not on the mortgage company conveyancing list. Is it possible for me to continue with my Blackfen conveyancing solicitor even though they are not on the mortgage company list of approved lawyers?
You have a number of alternatives available to you here
- Carry on with your preferred Blackfen lawyer but your mortgage company will need to use a solicitor from their approved panel. This will result in additional charges together with potential frustration.
- Get a fresh conveyancing practitioner to act in the purchase, obviously checking they are on the lender conveyancing panel.
- Convince your solicitor to do everything within their powers to get accepted on the bank’s conveyancing panel
My conveyancer has uncovered a a legal deficiency with the lease for the flat we are buying in Blackfen. The seller’s lawyers have put forward title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancer has advised that he must be satisfied that the mortgage company is happy with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your conveyancing practitioner 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 bank 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 conveyancer will have no choice but to discontinue acting for you.
I have been told that property searches are the main reason for obstruction in Blackfen conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any holding up conveyancing in Blackfen.
Me and my brother own a 4 bedroom Victorian property in Blackfen. Conveyancing solicitor represented me and The Royal Bank of Scotland. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the exact same property. Is it worth asking The Royal Bank of Scotland to clarify?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Blackfen and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing practitioner who conducted the conveyancing.
I am looking for a ground for flat up to £235,500 and found one close by in Blackfen I like with a park and railway links nearby, however it only has 52 remaining years left on the lease. I can't really find anything else in Blackfen suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan that many years will likely be problematic. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
My wife and I are first time buyers just having agreed a price on a property in Blackfen, and need to get solicitors instructed. We have utilised the different comparison tools and the quotes are from all over the the UK. Is it necessary to have a Blackfen conveyancing practitioner local to the potential property? I am fine to do all the communicating over email, but I am thinking at some point we may be required to visit the solicitor's office to sign papers?
Usually there is no requirement to physically visit the office of your conveyancing practitioner, they can post any relevant papers to you, which you can sign and send back. Many buyers and sellers choose to use a locally based solicitor, but it's by no means essential for conveyancing in Blackfen.