Our conveyancer has discovered a a legal deficiency with the lease for the flat we are purchasing in Coxhoe. The seller’s lawyers have offered defective title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancer says that he must check that the mortgage company is content with this solution. Are we the client or is the mortgage company ?
Even though you have a mortgage offer from the lender 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 conditions. You and the lender are the client. The appropriate lender conditions have to be complied with.
It is is a decade since I purchased my property in Coxhoe. Conveyancing solicitors have just been appointed on the sale but I am unable to locate the title deeds. Is this a major issue?
You need not be too concerned. First the deeds may be retained by your lender or they may be in the possession of the lawyers who handled your purchase. Secondly the chances are that the property will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring up to date copy of the land registers. Most conveyancing in Coxhoe relates to registered property but in the rare situation where your home is unregistered it adds to the complexity but is not insurmountable.
We are planning to move house in December. Should my conveyancing solicitor update the removal company on the completion day. Incidentally, can you put forward a removal company in Coxhoe. Conveyancing solicitor was organised prior to coming across this page.
On the afternoon of completion you can pick up the house keys from the selling agent however this should only occur when the previous owners solicitors confirm to the agent that they acknowledge receipt of the completion payment and the keys can be passed over. Subsequently you will need to advise the removal company that you are ready to move in. As a matter of policy we do not recommend a particular removal company but can help you choose a conveyancing in Coxhoe or a lawyer that specialises in conveyancing in Coxhoe.
Two weeks ago we had a mortgage agreed in principle with Virgin Money. Coxhoe conveyancing solicitors have been chosen. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
There is no definitive answer here. Have Virgin Money conducted the survey? Have you advised Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
About to purchase house in Coxhoe. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Coxhoe conveyancing practitioner is on the Virgin Money conveyancing panel.
I have been told that property searches are a common reason for hinderance in Coxhoe conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of slowing down conveyancing in Coxhoe.
I'm purchasing a new build house in Coxhoe benefiting from help to buy. The developers would not move on the amount so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not inform my conveyancer about the side-deal as it would impact my mortgage with Britannia. Is this normal?.
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.
My wife and I are buying a garden flat in Coxhoe. When we first instructed lawyer, we were told they were on all major UK mortgage company panels. The mortgage broker called just now to advise that they don't seem to be on the TSB approved list. If it turns out to be true, what should we do? Do we simply choose a different conveyancer that is on their panel or should we cover the costs for dual representation, with TSB selecting their own approved solicitor.
When buying a property with the benefit of a mortgage it is standard for the purchaser’s solicitors to also act for the purchaser's lender. In order to act for a bank or building society a conveyancer has to be on that lender's list of approved lawyers. An application has to be made by the solicitor to the lender to become a member of the lender's panel and there are increasingly strict conditions which the solicitor has to satisfy. Some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your conveyancer should call TSB to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on TSB's conveyancing panel and you may continue to use your own Coxhoe solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.