Our solicitor has identified a defect with the lease for the flat we are buying in Splott. The other side have offered title insurance as a solution. We are happy with insurance and will pay for it. Our property lawyer has advised that he must check that the mortgage company is willing to move forward with this solution. Who is the client here, us or the lender?
Regardless of the fact that you have a mortgage offer from the bank does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. The appropriate lender conditions must be adhered to.
It is a dozen years since I acquired my property in Splott. Conveyancing solicitors have now been retained on the sale but I can't locate the deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly the deeds may be retained by your mortgage company or they could be archived with the lawyers who handled the purchase. Secondly in all probability the land will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. Most conveyancing in Splott involves registered property but in the rare situation where your home is not registered it is more of a problem but is resolvable.
Is it necessary during the course of the conveyancing process to visit the offices of the solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Splott so that I can pop in to their offices if required.
Most approved lawyers for lenders undertake the vast majority of communications through Royal Mail, e-mail or over the phone. This means that they can undertake the legal work for your home move no matter where you live in the country. However you can check if you have the option of going to the offices of your conveyancing lawyer if just in case this is required.
My wife and I are close to exchanging contracts on the sale of our property in Splott and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers are using a national conveyancing firm rather than a conveyancing solicitor in Splott. We have lived in Splott for 4 years we know of no issue. Should we contact our local Authority to get clarification that there is no issue.
It would appear that you have a conveyancing solicitor already. What do they say? You must 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 sickness)
I have been on the look out for a flat up to £195,000 and found one close by in Splott I like with a park and station in the vicinity, however it only has 49 years on the lease. I can't really find anything else in Splott suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage that many years may be problematic. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
Me and my wife are FTB’s just having agreed a price on a property in Splott, and are about to get solicitors lined up. We have used the numerous rating tools and the results are from all over the England and Wales. Is it essential to have a Splott conveyancer local to your potential new home? We are happy to do all the communicating over the web, but I am thinking at some stage we will be required to visit the solicitor's office to sign documents?
On the whole there is no need to physically visit the office of your conveyancing practitioner, they can post any relevant documents to you, which you can sign and return. Many home movers nevertheless opt to instruct a locally based solicitor, but it's by no means essential for conveyancing in Splott.