My lawyer has identified a a legal deficiency with the lease for the flat we are buying in Rotherham. The seller’s lawyers have put forward defective title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancer says that he must be satisfied that the bank is willing to move forward with this solution. Are we the client or is the mortgage company ?
Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the lender are the client. The appropriate lender specifications must be adhered to.
When it comes to lenders such as Nottingham, do Rotherham solicitors incur an annual charge to be on the list of approved solicitors?
We are unaware of any bank fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
We have agreed to purchase a house in Rotherham. A rare aspect is that the roof has a solar panel. Leeds Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Leeds Building Society your lawyer must follow the conveyancing requirements contained in Section two of UK Finance Lenders’ Handbook for Leeds Building Society. The Council of Mortgage Lenders’ Handbook stipulates minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to Leeds Building Society where a lease does not meet these conditions. The provisions relate to the installation of panels on properties nationwide and is not restricted to Rotherham.
I am due to exchange contracts on my house. I had a double glazing fitted in May 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Barclays are being problematic. The Rotherham solicitor who is on the Barclays conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Barclays are requiring a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I require fast conveyancing in Rotherham as I am faced with an ultimatum to exchange contracts within 3 weeks. Luckily I do not need a mortgage. Can I decline from having conveyancing searches to save fees and time?
As you are are a mortgage free purchaser you have the choice not to do searches although no solicitor would advise that you don't. Drawing on years of experience of conveyancing in Rotherham the following are examples of issues that can crop up and adversely impact future mortgageability: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Railway Schemes,...
Are there restrictive covenants that are commonly picked up during conveyancing in Rotherham?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Rotherham. 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…’
I am purchasing a new build house in Rotherham with the aid of help to buy. The developers refused to budge the price so I negotiated 6k of fixtures and fittings instead. The house builders rep advised me not to tell my conveyancer about the side-deal as it would 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 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.
At last I have had an offer on an maisonette in Rotherham agreed to, but there is a chain. The current proprietors have submitted an offer on somewhere, however it’s not yet tied up, and are looking at other apartments in the pipeline. I have instructed a nearby conveyancing solicitor in Rotherham. What do I do now? When should I get the mortgage application with Santander going with Santander?
It is standard to have concerns where there is an associated chain given your reluctance to incur expenses too early (home loan application is in the region of one thousand pounds, then survey, Rotherham conveyancing search charges, etc). First, you must ensure that your lawyer is on the Santander conveyancing panel. Regarding the next steps this very much dictated by the circumstances of your case, desire for the property and on the state of the market. During a buoyant market the majority of purchasers will apply for the mortgage with Santander and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with the conveyancing in Rotherham.