My conveyancer has discovered a a legal deficiency with the lease for the property we are purchasing in Dolwyddelan. The other side have put forward title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must ensure that the lender is willing to move forward with this solution. Who is the client here, us or the bank?
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 property lawyer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank 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 lawyer will have no choice but to discontinue acting for you.
My wife and I are intent on selling our house in Dolwyddelan and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. A high street Dolwyddelan conveyancer would know this is not the case. It does beg the question why the buyers used a web based conveyancing outfit as opposed to a conveyancing solicitor in Dolwyddelan. We have lived in Dolwyddelan for six years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing solicitor already. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
three months have gone by since my purchase conveyancing in Dolwyddelan concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. 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 premises 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.
I am buying my first flat in Dolwyddelan benefiting from help to buy. The builders would not move on the price so I negotiated £7000 of extras instead. The estate agent told me not reveal to my solicitor about this deal as it may adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
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.
Due to the encouragement of my in-laws I had a survey completed on a house in Dolwyddelan ahead of instructing lawyers. I have been told that there is a flying freehold overhang to the property. My surveyor has said that some lenders may not issue a loan on a flying freehold property.
It varies from the lender to lender. Lloyds has different instructions from Nationwide. If you e-mail us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Dolwyddelan. Conveyancing will be smoother if you use a solicitor in Dolwyddelan especially if they are accustomed to such properties in Dolwyddelan.
I am selling my house. My previous solicitors has retired. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Dolwyddelan if that makes things easier.
Please use our search tool to help you choose a solicitor for your conveyancing in Dolwyddelan. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.