I am obtaining a mortgage offer from Lloyds. I hope to use a Licensed Conveyancer in Godstone. Does the Lloyds Solicitor panel allow for conveyancers regulated by the CLC?
The Lloyds conveyancing panel is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
Our lawyer has uncovered a defect with the lease for the flat we are buying in Godstone. The seller’s lawyers have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer says that he must ensure that the mortgage company is happy with this solution. Who is the client here, us or the bank?
Notwithstanding that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their provisions 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.
It is 10 years ago since I bought my house in Godstone. Conveyancing lawyers have now been instructed on the sale but I can't find the title documents. Is this a problem?
Don’t worry too much. First the deeds may be with your mortgage company or they could still be with the solicitor who oversaw the purchase. Secondly in most cases the title will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring current official copies of the land registers. Nearly all conveyancing in Godstone involves registered property but in the rare situation where your property is unregistered it is more of a problem but is not insurmountable.
three months have gone by since my purchase conveyancing in Godstone concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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 asset 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.
Just had an offer accepted on a new build apartment in Godstone. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Godstone
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I am purchasing a garden apartment in Godstone. Conveyancing solicitor has been awaiting, from the owner, building insurance paperwork. Earlier today I was advised that the seller needs to send the insurance schedule for the flat above in addition. Why would my conveyancing practitioner want to check the insurance for the other flat? Is it strictly required? We have been in hold for the last month…
It is not unheard of in leasehold conveyancing in Godstone to discover Conveyancing in Godstone in a minority of cases reveals that the lease provides for the tenant's to insure their individual flats rather than the landlord insuring the whole premises - which is definitely better. Do check with your solicitor but it would seem that your solicitor is seeking to verify that the complete building is insured. Insuring your residence is no help when it comes to rebuilding after a fire if the 1st floor cannot be reinstated for lack of insurance.