Our conveyancer has uncovered a a problem with the lease for the property we are purchasing in Teddington. The other side have put forward defective title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancer has advised that he must be satisfied that the lender is happy with this solution. Are we the client or is the bank?
Even though 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 have to be complied with.
The Teddington conveyancing solicitors that I recently instructed on my house acquisition in Teddington have suddenly closed. I chose them because I had to have a solicitor on the Barclays conveyancing panel and my family Teddington lawyer was not. I paid them funds in advance. What do I do now?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Barclays conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
I'm purchasing a new build house in Teddington with a mortgage from Britannia. The builders refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not reveal to my solicitor about the side-deal as it could adversely affect my mortgage with Britannia. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Due to the advice of my in-laws I had a survey completed on a property in Teddington before retaining conveyancers. I have been advised that there is a flying freehold element to the house. My surveyor has said that some mortgage companies tend refuse to grant a loan on a flying freehold property.
It varies from the lender to lender. Santander has different requirements from Nationwide. If you contact us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Teddington. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Teddington to see if the conveyancing will be more expensive.
I am downsizing from my house. My former lawyers closed down. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Teddington if that affects matters.
Do use our search tool to help you find a solicitor for your conveyancing in Teddington. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes smoothly.
Is it the case that all Teddington solicitors on every bank conveyancing panel?
The Lexsure search tool on this page may be of use or you can pop into your local lender branch in Teddington. the probability is that they can recommend conveyancing solicitors in Teddington