Our conveyancer has uncovered a a problem with the lease for the flat we are purchasing in North Yorkshire. The seller’s lawyers have suggested defective title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor says that he must check that the mortgage company is content 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. Your conveyancer 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 bank 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.
Are the BSA intent on creating a online directory to to identify practices on the Coventry BS conveyancing panel for example in North Yorkshire?
Lexsure has not been advised of any plans on the part of the BSA to promote such a search facility.
I am intent on selling our home in North Yorkshire and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers instructed a national conveyancing firm rather than a conveyancing solicitor in North Yorkshire. We have lived in North Yorkshire for six years we know of no issue. Should we get in touch with our local Authority to seek clarification need.
It would appear that you have a conveyancing firm already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I purchased a semi-detached Victorian house in North Yorkshire. Conveyancing solicitor acted for me and Chelsea Building Society. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the matching address. Is it worth asking Chelsea Building Society to clarify?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in North Yorkshire and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing practitioner who conducted the purchase.
I'm purchasing my first flat in North Yorkshire benefiting from help to buy. The developers refused to reduce the price so I negotiated 6k of extras instead. The sale representative told me not reveal to my lawyer about this deal as it could jeopardize my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance 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.
My husband and I are 3 weeks into a residential purchase having been directed to a firm by the estate agent to do our conveyancing in North Yorkshire. I am am very frustrated with the quality of service. Can you help me find new conveyancers?
They would have to be very poor to suggest changing them. Has your mortgage offer been generated? In the event that it has you must make them aware of the new contact details and have the offer are re-sent. Your conveyancer should be on the banks panel to avoid added charges and complications. That should be your starting point. Our search tool should help you find a lender approved solicitor for your conveyancing in North Yorkshire