Our lawyer has discovered a defect with the lease for the apartment we are purchasing in Corbridge. The other side have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancer says that he must check that the lender is willing to move forward with this solution. Are we the client or is the mortgage company ?
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 lawyer must comply with the UK Finance Lenders’ Handbook specifications. 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 solicitor will have no choice but to discontinue acting for you.
Are the Corbridge conveyancing solicitors identified as being on the Yorkshire BS conveyancing panel, together with their details provided by Yorkshire BS?
Corbridge conveyancing firms themselves provide us confirmation that they are on the Yorkshire BS conveyancing panel as opposed to being supplied with a list from Yorkshire BS directly.
My aunt passed away 10 months ago and as sole heir and executor I was left the house in Corbridge. The house had a small mortgage remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Leeds Building Society, pay off the mortgage. Is this allowed?
Given you plan to re-mortgage then Leeds Building Society will insist on your using a conveyancer on the Leeds Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Leeds Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Leeds Building Society mortgage is registered as a charge at the Land Registry.
I used Stirling Law several years ago for my conveyancing in Corbridge. Now, I need the files however cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Corbridge of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying a new build house in Corbridge benefiting from help to buy. The builders would not reduce the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not inform my solicitor about the extras as it would impact my loan with Alliance & Leicester . 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 opted to have a survey carried out on a house in Corbridge before instructing solicitors. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies may not give a loan on such a property.
It varies from the lender to lender. HSBC has different requirements from Nationwide. Should you wish to telephone us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Corbridge. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Corbridge to see if the conveyancing costs will increase in light of this.