Our solicitor has uncovered a a legal deficiency with the lease for the flat we are purchasing in Chobham. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must check that the mortgage company is happy with this solution. Who is the client here, us or the bank?
Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. These conveyancing instructions must be adhered to.
After scouring moneysavingexpert.com for an affordable lawyer in Chobham, most advise that I should instruct a CQS assured solicitor. What is CQS?
Chobham Conveyancing Quality Scheme solicitors have achieved accreditation by the law Society CQS was created to establish evidence of quality standards in the home moving process. CQS enables buyers and sellers to recognise solicitor firms who provide a quality residential conveyancing. Chobham is one of locations in England and Wales in which CQS have a presence. The scheme requires practices to undergo a strict assessment, compulsory training, self-certification, spot checks and annual reviews in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Council of Mortgage Lenders.
I own a terraced Victorian property in Chobham. Conveyancing practitioner acted for me and Bank of Ireland. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register as there may be 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 Chobham and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with your conveyancing lawyer who conducted the work.
I'm purchasing my first flat in Chobham benefiting from help to buy. The developers would not move on the amount so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not to tell my conveyancer about the extras as it will jeopardize my mortgage with Godiva Mortgages Ltd. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a straight forward, chain free conveyancing. Chobham is the location of the property. Can you shed any light on this issue?
Flying freeholds in Chobham are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chobham you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chobham may determine 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 residence.
How straightforward is it to use your search app to find a conveyancing solicitor in Chobham on the authorised to act for my mortgage?
First pick a lender such as Halifax, Skipton Building Society or Bank of Ireland then specify your location a common one being Chobham. Conveyancing organisations in Chobham and nationally should be shown.