My lawyer has uncovered a a legal deficiency with the lease for the property we are buying in Trefnant. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer says 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 mortgage company does not mean to say that the property will meet their provisions 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. These conveyancing instructions have to be complied with.
At what point does exchange of contracts happen for residential conveyancing in Trefnant and do I need to attend the lawyers office?
If you are local to our conveyancing solicitors in Trefnant you are welcome to attend to sign the paperwork. However, the law practices we work with offer a nationwide conveyancing service and give just as comprehensive and professional a job for you when communicating with you electronically. The signing of the contract is not when everything is set in stone. A signed contract simply enables the solicitor to officially exchange when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Trefnant)to be in the office available at the end of the phone to exchange contracts.
I have decided to exercise my right to buy my property in Trefnant off the council. I have a mortgage offer with Nottingham. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
The formalities of my remortgage has taken place for my property in Trefnant. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I am due to exchange contracts on my house. I had a double glazing fitted in January 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Skipton are being a right pain. The Trefnant solicitor who is on the Skipton conveyancing panel is saying indemnity insurance will be fine but Skipton are requiring a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton 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 am purchasing my first flat in Trefnant with the aid of help to buy. The builders refused to move on the price so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not reveal to my lawyer about this extras as it would impact my mortgage with the bank. Is this normal?.
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.
I decided to have a survey done on a property in Trefnant before retaining solicitors. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some banks may not give a mortgage on such a home.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. Should you wish to telephone us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Trefnant. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Trefnant to see if the conveyancing will be more expensive.
Is it best to go with a Trefnant conveyancing lawyer based in the location that I am purchasing? We have a good friend who can execute the conveyancing however they are based approximately 350kilometers drive away.
The benefit of a high street Trefnant conveyancing practice is that you can attend the office to sign documents, deliver your identification documents and apply pressure on them where appropriate. They will also have local insight which is a plus. However it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and on the whole were impressed that must outweigh using an unknown Trefnant conveyancing solicitor just because they are Trefnant based.