Our conveyancer has identified a a problem with the lease for the flat we are purchasing in Chesham Bois. The seller’s lawyers have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that he must be satisfied that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook requirements. 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 conveyancing practitioner will have no choice but to discontinue acting for you.
It is 10 years ago since I bought my property in Chesham Bois. Conveyancing solicitors have just been instructed on the sale but I am unable to find the deeds. Will this cause complications?
You need not be too concerned. First the deeds may be retained by your lender or they may be in the possession of the conveyancers who acted in your purchase. Secondly the chances are that the property will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring up to date copy of the land registers. The vast majority of conveyancing in Chesham Bois relates to registered property but in the unlikely event that your property is unregistered it adds to the complexity but is not insurmountable.
I require quick conveyancing in Chesham Bois as I am faced with an ultimatum to sign on the dotted line in less than one month. A home loan is not required. Can I avoid the conveyancing searches to save fees and time?
If.Given you are not taking a home loan you have the choice not to do searches although no solicitor would advise that you don't. With lots of history conveyancing in Chesham Bois the following are examples of what can arise and therefore affect future mortgageability: Enforcement Notices, Outstanding Charges, Outstanding Grants, Unadopted Roads,...
I am buying a new build house in Chesham Bois with the aid of help to buy. The developers refused to budge the price so I negotiated £7000 of additionals instead. The house builders rep advised me not reveal to my lawyer about the extras as it could affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I'm converting the mortgage on my current home to a BTL loan with Skipton Building Society and I will use the ballance of the raised equity towards another property. The neighborhood we are interested in is Chesham Bois. Will your conveyancers be able to act for the two banks and tie in the two deals?
Make use of our comparison tool on this page to ensure that the lawyers are on the appropriate lender panels. Assuming that they are the solicitor should be able to tie up the two conveyancing matters but you should have a chat with you solicitor and make apparent your desired outcome and needs.
Why am I unable to complete our conveyancing in Chesham Bois on May bank holiday?
This is due to the fact that on completion the money needs to pass between the banks of the purchaser and owner’s property lawyer and at present this can only occur on a business day. So you can't complete on a weekend either.