My solicitor has uncovered a a problem with the lease for the flat we are purchasing in Lyndhurst. The other side have offered defective title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancer has advised 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 mortgage company does not mean to say that the property will meet their specifications 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 bank are the client. The appropriate lender provisions must be adhered to.
It is is a decade since I bought my property in Lyndhurst. Conveyancing solicitors have just been instructed on the sale but I can't locate my title deeds. Is this a problem?
You need not be too concerned. First the deeds may be kept by your mortgage company or they may stored with the lawyers who oversaw your purchase. Secondly the likelihood is that the title will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors procuring up to date copy of the land registers. Almost all conveyancing in Lyndhurst relates to registered property but in the unlikely event that your property is unregistered it is more tricky but is resolvable.
What is your number one tip for finding a conveyancing solicitor in Lyndhurst
Do not opt for the cheapest Lyndhurst conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I just bought a property at auction in Lyndhurst. Conveyancing is necessary. What happens now?
Given that you have now legally committed yourself to purchase you should appoint a conveyancing solicitor soon as you now have a pending deadline in which to complete the deal. An auction property will have a bespoke auction pack. This will include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the auction pack should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to a leasehold property. You need to pass this on to your appointed conveyancing solicitor ASAP. You also need to ensure that you have funds organised to complete on the date specified in the contract.
I'm the single recipient of my late grandmother’s will with all property in now in my sole name, including the house in Lyndhurst. The Lyndhurst property was put into my name in October. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership may be treated the same way as though I had purchased the property in October. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. Some mortgage companies would take a pragmatic view as this obligation is chiefly there to pick up on subsales or the flipping of property.
Should commercial conveyancing searches disclose planned roadworks that may affect a commercial property in Lyndhurst?
Its becoming the norm that commercial conveyancing solicitors in Lyndhurst will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Lyndhurst. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Lyndhurst.
For every commercial conveyancing transaction in Lyndhurst it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may result in delays to Lyndhurst commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Lyndhurst.
I am purchasing my first flat in Lyndhurst with a loan from Virgin Money. The sellers would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The property agent advised me not disclose to my lawyer about the side-deal as it will affect my loan with Virgin Money. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been sourcing a conveyancing practitioner in Lyndhurst for my house move. Is there any facility to review a firm’s record with the legal regulator?
You may find published Solicitor Regulator Association (SRA) decisions resulting from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. For details Pre 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The regulator may recorded telephone calls for training reasons.