My solicitor has uncovered a a problem with the lease for the property we are purchasing in Kings Norton. The other side have suggested title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor has advised that he must check that the bank is content with this solution. Are we the client or is the mortgage company ?
Even though you have a mortgage offer from the bank 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 conditions. You and the lender are the client. These conveyancing instructions must be adhered to.
Finally the sale completed on my house in Kings Norton last September but our buyer keeps SMS messaging me complaining that her conveyancer needs to hear from mysolicitor. What are the post completion sale formalities following completion?
Following your sale your solicitor should forward the transfer documentation and all supplemental paperwork to the buyer’s lawyers. Depending on the transaction, your solicitor should also confirm that the home loan has been repaid to the purchasers lawyers. There are no post completion tasks specific conveyancing in Kings Norton.
We are selling our home in Kings Norton. Will the lawyer have to be on the Kent Reliance conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Kent Reliance conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
We have agreed to purchase a house in Kings Norton. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Clydesdale be concerned?
Given that you are obtaining a mortgage with Clydesdale your lawyer must comply with the formal requirements set out in Part 2 of UK Finance Lenders’ Handbook for Clydesdale. The Council of Mortgage Lenders’ Handbook contains minimum conditions for solar panel roof-space leases, and property lawyers are required to report to Clydesdale where a lease does not comply with these provisions. The requirements relate to the installation of panels on properties in England and Wales and is not restricted to Kings Norton.
I currently have a mortgage with Clydesdale for my property in Kings Norton. Conveyancing was finalised months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Clydesdale?
You must advise Clydesdale before letting out your property as this is likely to be a breach of Clydesdale’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. You need not do this via a Clydesdale conveyancing panel firm.
Having digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Kings Norton solicitor - who is on the Bank of Ireland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Kings Norton surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
How does conveyancing in Kings Norton differ for new build properties?
Most buyers of new build or newly converted property in Kings Norton contact us having been asked by the developer to sign contracts and commit to the purchase even before the residence is ready to move into. This is because developers in Kings Norton usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Kings Norton or who has acted in the same development.
We are in the process of buying a property in Kings Norton. Conveyancing is not over but we wish to have our transaction price confidential from sites such as Rightmove. Is this achievable and how?
HMLR as a matter of law obliged to reveal price sold information on a register of the title for residential properties nationwide which includes properties in Kings Norton. The register of title is a public document, so the Land Registry would be breaking the law excluded specific homes such as your one in Kings Norton.
In essence you can ask the Land Registry to hide the price paid entry however the response will be a No.