My lawyer has discovered a defect with the lease for the apartment we are purchasing in Llanrwst. The other side have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer says that he must ensure that the lender is content with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender 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.
We are looking to buy a house and need a conveyancing solicitor in Llanrwst who is on the Santander solicitor panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Santander . We don't recommend any particular firms conducting conveyancing in Llanrwst.
We wish to acquire a newly converted flat in Llanrwst with a loan from TSB.We use our Llanrwst conveyancing solicitor but TSB informed us she’s not listed on their approved list of member firms. It seems we are left with no choice but to instruct a TSB panel solicitor or retain our local solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that TSB use our lawyer?
No, not really. The home loan offered to you contains various provisions, one of which will be that lawyers must be on the TSB approved list. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for TSB
I have today made my last payment due on my mortgage with RBS. I assume I don't need a Llanrwst conveyancing practitioner on the RBS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Llanrwst. I have a mortgage offer with Virgin Money. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
I am due to exchange contracts on my flat. I had a double glazing fitted in April 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Lloyds are being a right pain. The Llanrwst solicitor who is on the Lloyds conveyancing panel is saying indemnity insurance will be fine but Lloyds are requiring a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?
It is probably the case that Lloyds have referred the matter to their valuer. The reason why Lloyds may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Am I best advised to choose a Llanrwst conveyancing lawyer based in the area that I am hoping to buy? We have a good friend who can carry out the conveyancing however his firm is located 200miles away.
The primary upside of using a local Llanrwst conveyancing practice is that you can visit the firm to sign paperwork, hand in your identification documents and pester them where appropriate. Having local Llanrwst know how is a plus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and the majority were content that should outweigh using an unknown Llanrwst conveyancing solicitor just because they are local.
Our lawyer in Llanrwst has discovered a a problem with the lease for the flat we are buying in Llanrwst. The other side have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor says that as he is on the lender conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the lender 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 lawyer will have no choice but to discontinue acting for you.