My lawyer has uncovered a a problem with the lease for the apartment we are purchasing in Perivale. The other side have suggested defective title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer says that he must check that the lender is content with this solution. Who is the client here, us or the mortgage company ?
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 lender are the client. The appropriate lender provisions must be adhered to.
I am selling our property in Perivale and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. A local conveyancer would know that there is no such problem. It does beg the question why the purchasers used a nationwide conveyancing firm as opposed to a conveyancing solicitor in Perivale. Having lived in Perivale for six years we know of no issue. Do we contact our local Authority to obtain clarification that the buyers are looking for.
It would appear that you have a conveyancing lawyer currently acting for you. 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 health insurance to cover that same ailment)
I am purchasing my first flat in Perivale benefiting from help to buy. The sellers refused to budge the amount so I negotiated 6k of extras instead. The property agent suggested that I not disclose to my solicitor about this deal as it will put at risk 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 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.
Due to the input of my in-laws I had a survey completed on a property in Perivale before appointing lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some banks tend not grant a loan on this type of house.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. If you call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Perivale. Conveyancing will be smoother if you use a solicitor in Perivale especially if they are accustomed to such properties in Perivale.
Should I be wary by estate agents that I am dealing with are encouraging me to use a national conveyancing firm rather than a local Perivale conveyancing firm?
As is the case with many professional services, often suggestions from family and friends can be extremely useful or valuable. But there are lots of players in a conveyancing transaction; estate agents, financial adviser and lenders may recommend conveyancers to use. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there might be a financial incentive behind the endorsement. You have the discretion to appoint your own conveyancer. Don't forget that some lenders operate an approved list of solicitors you are obliged to use for the mortgage related work in your home move.
I am thinking of appointing a conveyancing practitioner in Perivale for my sale. Is it possible to see a firm’s complaints history with the profession’s regulator?
You can review published Solicitor Regulator Association (SRA) decisions stemming from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find details Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training purposes.