I am not in a position to travel far from Leigh. I would like to know the understand why all Leigh solicitors aren't included on all lender panels?
A decade ago most mortgage companies exhibited an attitude to risk which differs from the current day. The FSA in 2010 conducted a thematic review into mortgage fraud which in summary warned lenders: know the conveyancers on your panel. As a result, banks have subsequently looked to extract more information from law firms concerning their processes and the staff who work for them and set certain criteria such as completing a minimum number of transactions. Hundreds of firms have been removed from lender panels even though they had an exemplary track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to meet the minimum volume of transactions the lenders required.
My lawyer has identified a a legal deficiency with the lease for the property we are buying in Leigh. The seller’s lawyers have offered title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must check that the mortgage company is happy with this solution. Who is the client here, us or the lender?
Regardless of the fact that you have a mortgage offer from the bank 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 provisions. You and the mortgage company are the client. The appropriate lender provisions have to be complied with.
What is the best way to investigate if the solicitor handling my conveyancing in Leigh is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Birmingham Midshires thus spending £175.00 in another set of legal fees.
You should make use of the find a conveyancing panel solicitor tool on this page. Pick the lender and type ‘Leigh’ or your preferred area and you will see a number of lawyer offices in Leigh or by proximity to you.
Do I need to pay for insurance to address the risk of chancel repairs when acquiring a property in Leigh?
Unless a prior purchase of the property took place after 12 October 2013 you could expect lawyers handling conveyancing in Leigh to remain recommending a chancel search and or chancel repair liability policy.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what should have been a simple, chain free conveyancing. Leigh is the location of the property. Can you offer any assistance?
Flying freeholds in Leigh are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Leigh you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Leigh may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
How does one as executor remove a deceased person's name from the title deeds for a house in Leigh?
If a Leigh property is co-owned and one of the proprietors dies, the name will not automatically be removed from the title deeds. It is not necessary to amend the title as in the event of a disposal you would just be asked to evidence as to the reason the joint owner is missing from the transfer, typically this takes the form of a grant of probate.
With a view to making the sale conveyancing simpler in the future you may apply to have the deceased party erased from the title by applying to the land registry with proof of the death. There is no fee from the Registry for this service.