Our conveyancer has identified a a legal deficiency with the lease for the apartment we are buying in Crowborough. The seller’s lawyers have put forward title insurance as a solution. We are content with insurance and will cover the costs. Our property lawyer says that he must be satisfied that the mortgage company is content with this solution. Are we the client or is the lender?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their requirements 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 bank are the client. These conveyancing instructions must be adhered to.
My solicitor has informed me that missing deeds insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Crowborough?
The right level of missing deeds indemnity insurance should be dictated by who your lender. It would differ for example between Santander and The Mortgage Works. Conveyancing lawyers as opposed to members of the public take out such policies.
My fiancee and I are in the process of viewing apartments in Crowborough and I am now considering a potential offer. Is it best to have a lawyer on ‘stand by’? I will be getting a home loan with Nottingham.
It would be advisable to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the selling agent. As you are obtaining a mortgage with Nottingham, make sure you remember to check that your lawyer is on the Nottingham conveyancing panel.
Completion of my purchase has taken place for my property in Crowborough. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Various online forums that I have come across warn that are the number one cause of delay in Crowborough conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Searches are unlikely to feature in any slowing down conveyancing in Crowborough.
It has been five months following my purchase conveyancing in Crowborough took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Due to the guidance of my in-laws I had a survey completed on a property in Crowborough in advance of retaining conveyancers. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some lenders will not issue a loan on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. If you call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Crowborough. Conveyancing may be slightly more expensive based on your lender's requirements.
I'm converting the mortgage on my existing property to a buy to let mortgage with Halifax and I will use the ballance of the raised equity towards a second property. The location we are interested in is Crowborough. Will your solicitors be able to act for the two lenders and link together the conveyances?
Make use of our comparison tool on this site to be sure that the lawyers are approved by both banks. On the basis that they are your lawyer will be able to simultaneously deal with the two conveyancing matters but you should have a chat with you solicitor and make clear your desired outcome and needs.