My conveyancer has uncovered a a legal deficiency with the lease for the apartment we are purchasing in Cleobury Mortimer. The other side have suggested title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancer says that he must be satisfied that the lender is happy with this solution. Who is the client here, us or the lender?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook conditions. You and the mortgage company are the client. The appropriate lender provisions must be adhered to.
The Cleobury Mortimer conveyancing firm that I recently instructed on my purchase in Cleobury Mortimer have without warning closed. I chose them because I had to have a lawyer on the Bank of Ireland conveyancing panel and my previous Cleobury Mortimer lawyer was not. I paid them funds on account. What are my options?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Bank of Ireland conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
I am buying my first flat in Cleobury Mortimer with a mortgage from Platform Home Loans Ltd. The builders would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not inform my lawyer about the extras as it would adversely affect my mortgage with the bank. Is this normal?.
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 opted to have a survey done on a house in Cleobury Mortimer prior to retaining solicitors. I have been told that there is a flying freehold element to the house. Our surveyor has said that some banks tend not grant a loan on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Cleobury Mortimer. Conveyancing may be slightly more expensive based on your lender's requirements.
We are 17 days into a residential purchase having been directed to a firm by the selling agent to carry out the conveyancing in Cleobury Mortimer. I am not happy. Can you you assist me in finding new conveyancers?
They would have to be really bad to suggest diss instructing them. Has the mortgage offer been issued? In the event that it has you will need to inform them of the new solicitor and ensure the loan are issued to the new lawyers. The solicitor ideally needs to be on the mortgage company panel to avoid escalating charges and complications. So that should be your first question of the new solicitors. Our search tool can assist you in finding a lender approved solicitor for your home move in Cleobury Mortimer
I bought a house in Cleobury Mortimer last 19/8/2024 and to date it is still not recorded with HM Land Registry. It is part of a new estate and my solicitor told me that it can take twelve months to register. I have called HM Land Registry directly and they have informed me the original application was cancelled due to questions not being addressed in time. Should I be concerned?
Contact your conveyancer - if you are not getting sensible responses, look up their firm’s complaints process and amplify your problem to a Partner. Registrations for Cleobury Mortimer conveyancing are not known to be significantly delayed.