My solicitor has discovered a a legal deficiency with the lease for the property we are purchasing in Chatteris. The other side have put forward defective title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancing practitioner has advised that he must check that the bank 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 lender are the client. Your 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 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.
My apartment in Chatteris is up for sale and I have a purchaser. Will the property lawyer have to be required to be on the Nationwide conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently at the moment.
I have justbeen informed that Action Conveyancing have been shut down. They conducted my conveyancing in Chatteris for a purchase of a freehold house 10 months ago. How can I be sure that my home is in my name in the name of the former proprietor?
The quickest way to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Chatteris conveyancing specialists.
Just had an offer accepted on a new build flat in Chatteris. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Chatteris
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
We are four weeks into a residential purchase having been directed to solicitors by the selling agent to perform conveyancing in Chatteris. I am am extremely dissatisfied with the quality of service. Could you help me find new lawyers?
A conveyancer would have to be very poor in order to consider changing them. Has your loan offer been issued? In the event that it has you need to inform them of the new solicitor and get the offer are issued to the new lawyers. Your solicitor ideally should be on the lenders panel to avoid added expenses and delays. So that should be your first question of the new lawyers. The find a solicitor tool will help you find a lender approved lawyer for your home move in Chatteris
Do I stop my mortgage payments with Santander once a completion date for my home sale in Chatteris has been set?
No, you should continue paying any mortgage sums to Santander until the mortgage is repaid out of the proceeds of sale as part of your Chatteris conveyancing.