My conveyancer has uncovered a a legal deficiency with the lease for the property we are purchasing in Ferring and Goring. The seller’s lawyers have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer says that he must check that the lender is content 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 bank are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook conditions. 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 property lawyer will have no choice but to discontinue acting for you.
When can the exchange of contracts happen for purchase conveyancing in Ferring and Goring and do I need to be at the solicitors office?
If you are near to one of the conveyancing solicitors in Ferring and Goring you are welcome to come in to sign documents. However, the firms we work with supply a national conveyancing service and give just as diligent and professional a job for you when communicating with you digitally. The signing of the sale agreement is not the critical part. Signing on the dotted line is necessary for the firm to exchange contracts at the suitable time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Ferring and Goring)to be in the office at the appropriate time.
My grandmother passed away 10 months ago and as sole heir and executor I was left the house in Ferring and Goring. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Skipton, pay off the mortgage. Is this possible?
Given you intend to refinance then Skipton will require that you use a conveyancer on the Skipton 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 Skipton 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 Skipton mortgage is registered as a charge at the Land Registry.
Should our lawyer be raising questions regarding flooding during the conveyancing in Ferring and Goring.
The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Ferring and Goring. There are those who buy a property in Ferring and Goring, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to give advice on flood risk, but there are a number of searches that can be carried out by the purchaser or by their solicitors which will give them a better understanding of the risks in Ferring and Goring. The conventional set of information given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the seller to determine whether the property has historically flooded. If flooding has previously occurred and is not notified by the seller, then a buyer may issue a legal claim for losses resulting from an inaccurate reply. The purchaser’s conveyancers will also carry out an environmental search. This should indicate whether there is any known flood risk. If so, further inquiries will need to be conducted.
Despite weeks of looking the Title Certificate and documents to my house can not be found. The solicitors who dealt with the conveyancing in Ferring and Goring 5 years ago are no longer around. What do I do?
Nowadays there are copies made of almost everything, and your solicitor will know exactly where to find all the relevant paperwork so you can purchase or sell your house without any difficulty. If copies can’t be found, your solicitor may be able to arrange cover in the form of insurance or indemnities protecting you against future claims on the property.
Me and my husband have recently had an offer accepted on a house and had an appointment on Wednesday with the Post Office for the mortgage. They advised us that when it comes to appointing a solicitor that unless they are on their approved list of solicitors then we will have to pay out an additional fee of £200. This is because they will then have to select a property lawyer to act for them as well as the one we select on our behalf and we assume responsibility for their fees. I have asked the Post Office to furnish me with a list so I can obtain quotes only from their approved lawyers but was told they dont have such a list to hand over. Is there a simple way of finding out who is on a lender panel?
You should ask the Post Office what their criteria for panel membership is for a solicitor.Thereafter ask the property lawyer of your choice whether they fit that criteria and have they acted on mortgages for the Post Office before. Where the answer to those is yes, then just double check with the Post Office. Another option is to use our search tool and we should be able to locate a conveyancer in Ferring and Goring on the approved list for the Post Office.