My conveyancer has identified a a legal deficiency with the lease for the property we are purchasing in Dorking. 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 ensure that the lender is happy with this solution. Are we the client or is the mortgage company ?
Notwithstanding that you have a mortgage offer from the mortgage company 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 requirements. You and the lender are the client. These conveyancing instructions must be adhered to.
As someone not used to the Dorking conveyancing process what’s your top tip you can impart concerning the house moving process in Dorking
Not many law firms shout this from the rooftops but conveyancing in Dorking or throughout Surrey is an adversarial experience. In other words, when it comes to conveyancing there is lots of room for confrontation between you and other parties involved in the house moving process. For instance, the seller, property agent and sometimes the mortgage company. Appointing a law firm for your conveyancing in Dorking an important selection as your conveyancer is your adviser, and is the ONE person in the legal process whose role it is to act in your legal interests and to protect you.
There is a definite ongoing adversarial element to conveyancing- someone has to be blamed for the process being so protracted. You must always trust your solicitor above all other parties in the home moving process.
My property lawyer in Dorking is not on the Norwich and Peterborough Building Society Solicitor Panel. Can I still use my prefered solicitor even though they are excluded from the Norwich and Peterborough Building Society panel?
Your options are as follows:
- Carry on with your existing Dorking solicitors but Norwich and Peterborough Building Society will need to use a lawyer on their panel. This will inevitably rack up the overall conveyancing fees as well as result in frustration.
- Choose an alternative lawyer to act in the conveyancing, obviously checking they are Norwich and Peterborough Building Society approved.
- Persuade your Norwich and Peterborough Building Society based solicitor to seek to join the Norwich and Peterborough Building Society panel
I opted to have a survey carried out on a house in Dorking in advance of appointing lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some mortgage companies tend refuse to give a mortgage on this type of premises.
It varies from the lender to lender. HSBC has different instructions for example to Nationwide. Should you wish to call us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Dorking. Conveyancing may be slightly more expensive based on your lender's requirements.
We're first time buyers - had an offer accepted, yet the agent has warned us that the owners will only issue a contract if we appoint their recommended solicitors as they want an ‘expedited deal’. We would rather use a family solicitor accustomed to conveyancing in Dorking
We suspect that the owner is not behind this request. Should the seller require ‘a quick sale', alienating a motivated buyer is is going to put the whole deal at risk. Bypass the agents and go straight to the owners and make sure they understand (a)you are serious purchasers (b)you are ready to progress, with finances arranged © you are chain free (d) you intend to proceed fast (e)but you will continue to appoint your own,trusted Dorking conveyancing firm - not the ones that will give the negotiator at the agency a commission or hit his conveyancing targets demanded by corporate headquarters.
I am due to assess estimates for conveyancing in Dorking from numerous conveyancer and decide on one. Should I get them to sit tight until I I have an offer accepted on a house.
We suggest that you wait to get your conveyancing practitioner to start work and order searches after the sales memorandum has been issued by the estate agent particularly as Dorking conveyancing searches are not cheap.