Our solicitor has discovered a a legal deficiency with the lease for the apartment we are buying in Loddon. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer says that he must be satisfied 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 potential for a conflict of interest, you and the lender are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company 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 conveyancing practitioner will have no choice but to discontinue acting for you.
We wanted to use a property lawyer in Loddon for our home move. Our broker informed us that our bank Lloyds TSB Bank won't deal with them. Surely this is unfair competition?
A bank may direct that an approved conveyancer act for it. You would be liable to bear the charges for this. Do use our database to choose a solicitor to conduct conveyancing in Loddon on the Lloyds TSB Bank approved list of solicitors.
We are purchasing a detached bungalow in Loddon. Our aim is to carry out a loft conversion at the house.Will legal due diligence on the property include enquiries to ascertain if these works are prohibited?
Your solicitor should check the deeds as conveyancing in Loddon will sometimes identify restrictions in the title documents which prevent categories of changes or need the permission of a 3rd party. Many additions call for local authority planning consent and approval in accordance building regulations. Certain locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be sensible to check these issues with a surveyor before you commit yourself to a purchase.
My husband and I have arranged the release of further monies on our home loan from Skipton as we want to conduct improvements to our home in Loddon. Are we obliged to choose a local Loddon solicitor on the Skipton conveyancing panel to handle the paperwork?
Skipton don't usually instruct a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton panel.
I am due to exchange contracts on my apartment. I had a double glazing fitted in September 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Nottingham are being pedantic. The Loddon solicitor who is on the Nottingham conveyancing panel is recommending indemnity insurance as a solution but Nottingham are requiring a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham 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.
I have been told that property searches are a common cause of stalling in Loddon conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in Loddon.
Just acquired a detached house in Loddon , how long will it take for the Land Registry to register the transfer to my name? My Loddon conveyancing solicitor has been painfully slow, so I want to be sure the land registry aspects are dealt with.
As far as conveyancing in Loddon is concerned, registration is no quicker or slower than the rest of the country. Rather than based on location, timescales can differ depending on who lodges the application, whether it is in order and if the Land registry must send notices to any third persons or bodies. At present in the region of 80% of submission are fully dealt with in less than three weeks but occasionally there can be protracted hold-ups. Registration occurs after the buyer has moved in to the premises so an expedited registration is not usually an essential issue yet where it is urgent that the the registration takes place urgently then you or your lawyers could communicate with the Registry to express the reasoning for an expedited registration.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Loddon is the location of the property. Can you shed any light on this issue?
Flying freeholds in Loddon are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Loddon you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Loddon may decide 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 premises.