My mortgage broker has asked me for my Bramford lawyer’ panel reference for the Santander conveyancing panel. What is the best way to discover this. I have e-mailed my local Bramford office but they cant find it on their system.
The sensible thing to do is ask for this information from your Bramford solicitor . Most Bramford conveyancing firms will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
My lawyer has identified a a legal deficiency with the lease for the property we are purchasing in Bramford. The other side have offered defective title insurance as a solution. We are happy with insurance and will pay for it. Our property lawyer has advised that he must ensure that the bank is content with this solution. Are we the client or is the bank?
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 provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender 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.
Do I have to visit the offices of the solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Bramford so that I can attend their offices if necessary.
As opposed to 15 years ago, the vast majority lenders no longer need their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide identification documents and there are still manifest advantages to choosing a local solicitor, in your case a conveyancing solicitor in Bramford.
four months have elapsed since my purchase conveyancing in Bramford completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. 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 property 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 Bramford differ for new build properties?
Most buyers of new build property in Bramford approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because builders in Bramford tend to buy 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 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 Bramford or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Bramford is the location of the property. Can you shed any light on this issue?
Flying freeholds in Bramford are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bramford you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bramford may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.