Our lawyer has identified a a problem with the lease for the property we are purchasing in Rothbury. The other side have suggested title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancing practitioner has advised that he must be satisfied that the lender is willing to move forward with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your conveyancing practitioner 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 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 lawyer will have no choice but to discontinue acting for you.
My wife and I are purchasing a house in Rothbury. It might be a silly question but how we can trust a conveyancer? At some point we will need to put money into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
What is your number one tip for choosing a conveyancing solicitor in Rothbury
We would encourage you not to base your choice on the lowest Rothbury conveyancing fees. You really do get what you’re paying 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.
Two weeks ago we had a mortgage agreed in principle with Barclays. Rothbury conveyancing solicitors have been appointed. What is the average time that one could expect to receive a mortgage offer from Barclays?
Some lenders take longer than others. Have Barclays completed the survey? Have you informed Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Are there restrictive covenants that are commonly identified during conveyancing in Rothbury?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Rothbury. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Rothbury differ for new build properties?
Most buyers of new build or newly converted property in Rothbury come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Rothbury usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Rothbury or who has acted in the same development.
I need to retain a conveyancing solicitor for freehold conveyancing in Rothbury. I happened to land on a web site which seems to have the perfect answer If it is possible to get all the legals done via web that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My aunt purchased her house in Rothbury 7 years past. She has been married, widowed and in recent months got married again. She now intends to dispose of the Rothbury property. I suspect that she will simply be requested to provide a copy of the marriage certificates to the conveyancer but she is concerned it could hold up the house move. Is it worth updating the Land Registry information for the property?
It is not absolutely necessary to update the register on the basis that you have the proof required to demonstrate how the change of name occurred.
Any purchaser’s lawyer should check the title information and ask for evidence to establish the name change e.g. marriage documentation.