Our conveyancer has uncovered a defect with the lease for the apartment we are purchasing in Rhosesmor. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancer says that he must check that the lender is content with this solution. Who is the client here, us or the bank?
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 property lawyer must comply with the UK Finance Lenders’ Handbook specifications. 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 conveyancer will have no choice but to discontinue acting for you.
Completed the sale of my flat in Rhosesmor last January yet the purchaser is SMS messaging every few hours complaining that their solicitor needs to hear from mine. What are the post completion sale legalities now that I have sold?
Post completion of your sale your solicitor is obliged to deliver the transfer deeds and all supplemental paperwork to the purchaser's conveyancer. Where relevant, your lawyer must also evidence that the legal charge in favour of the lender has been redeemed to the purchasers lawyers. There is unlikely to be post completion procedures specific conveyancing in Rhosesmor.
My wife and I buying a 3 bedroom semi in Rhosesmor. Our aim is to an extension at the rear at the house.Will the conveyancing process include investigations to determine if these works are allowed?
Your conveyancer should check the registered title as conveyancing in Rhosesmor can sometimes identify restrictions in the title deeds which prohibit certain changes or need the permission of a 3rd party. Certain additions require local authority planning consent and approval in compliance with building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these things with a surveyor before you commit yourself to a purchase.
Can you point me to a directory of Nottingham panel solicitors in Rhosesmor on the Building Society Association’s Website?
No. There is no such directory service on the CML or Building Society Association sites. A small selection of lending institutions make their panel listings viewable over the internet. Where you are in need of a Rhosesmor lawyer on the Nottingham please make the most of our facility.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Rhosesmor building society branch on various occasions and was reassured it wasn't an issue and they would lend. My Rhosesmor conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your conveyancing practitioner has to follow the CML Handbook Part 2 specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I have been told that property searches are a common cause of obstruction in Rhosesmor house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Rhosesmor.
I have been on the look out for a flat up to £235,500 and identified one round the corner in Rhosesmor I like with open areas and railway links nearby, however it only has 61 remaining years left on the lease. I can't really find anything else in Rhosesmor in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a home loan that many years will be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I need to find a lender panel solicitor in Rhosesmor. Could you help me?
Unfortunately it’s not apparent why you need a Rhosesmor panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the lender to find out which solicitors in Rhosesmor are on their panel . If you do find such a firm in Rhosesmor not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site