I am not in a position to travel far from St Austell. Is there a reason why all St Austell conveyancing practitioners are not on all mortgage company panels?
A decade ago most mortgage companies displayed an attitude to risk which differs from the current day. The financial regulator in 2010 instigated a thematic review into fraud which in summary warned lenders: know the property lawyers on your panel. Consequently, banks have since soughtmore information from law firms concerning their processes and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Hundreds of law practices have found themselves excluded from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the minimum amount of transactions the mortgage companies insisted on.
Our conveyancer has uncovered a a legal deficiency with the lease for the apartment we are buying in St Austell. The other side have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancing practitioner has advised that he must ensure that the lender is happy with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company 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 property lawyer will have no choice but to discontinue acting for you.
Having sold my house in St Austell last January yet the purchaser is Skype messaging daily to moan that their solicitor needs to hear from mine. What should my lawyer have done following completion?
Post completion of your sale your conveyancer should send the transfer documentation and all supplemental paperwork to the purchaser's lawyers. Depending on the transaction, your solicitor must also evidence that the legal charge in favour of the lender has been redeemed to the buyers solicitors. There is unlikely to be post completion procedures specific conveyancing in St Austell.
My brother-in-law has suggested I instruct a conveyancing solicitor in St Austell. I I would like to check whether they are on the Yorkshire Building Society approved list of lawyers. Can you help?
The first thing you should do is contact the solicitor and ask them whether they can act for the lender. Otherwise please call Yorkshire Building Society who may be able to assist.
I have recentlyfound out that Stirling Law have closed. They carried out my conveyancing in St Austell for a purchase of a freehold house 10 months ago. How can I check that my home is in my name in the name of the previous owner?
The quickest method to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of St Austell conveyancing specialists.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a straight forward, chain free conveyancing. St Austell is where the house is located. What do you suggest?
Flying freeholds in St Austell are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in St Austell you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in St Austell may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.