My conveyancer has discovered a defect with the lease for the property we are purchasing in Walsall. The other side have offered title insurance as a solution. We are happy with insurance and will cover the costs. Our property lawyer has advised that he must ensure that the mortgage company is content with this solution. Who is the client here, us or the bank?
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 specifications 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.
Why do I have to pay up front for conveyancing in Walsall?
Where you are retaining lawyers for conveyancing in Walsall your solicitor will request that you put them with funds to cover the search fees. Normally this is needed to cover the fees of the conveyancing searches. When the down payment is as part of the purchase price then this should be needed immediately in advance of exchange of contracts. The closing balance that is needed should be sent to your lawyer shortly before completion.
My uncle passed away 10 months ago and as sole heir and executor I was left the house in Walsall. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this allowed?
Given you plan to refinance then Nottingham will require that you use a conveyancer on the Nottingham conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nottingham conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nottingham mortgage is registered as a charge at the Land Registry.
A relative informed me that in buying a property in Walsall there may be a number of restrictions prohibiting external alterations to a property. Is this right?
There are a number of properties in Walsall which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Walsall should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
is it true that all Walsall solicitor firms on the Principality conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Principality approved list of solicitors they would need to be governed by the SRA. Some mortgage companies do allow licenced conveyancers on their panel and in such a situation the practice would be regulated by the Council of Licensed Conveyancers.
Having digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Walsall solicitor - who is on the Aldermore conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Walsall postcode. As you are getting a mortgage with Aldermore, you could contact them to see if they have a list of approved surveyors in Walsall.
Am I best advised to instruct a Walsall conveyancing lawyer who is local to the property I am purchasing? I have an old university friend who can carry out the conveyancing but they are based 200kilometers drive away.
The benefit of a high street Walsall conveyancing practice is that you can attend the office to sign paperwork, hand in your ID and apply pressure on them where appropriate. Having local Walsall know how is a plus. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and the majority were content that should surpass using an unfamiliar Walsall conveyancing lawyer solely due to them being round the corner.
Whilst your website is a good idea there are many lawyers listed near Walsall being on the lender conveyancing panel. Can you recommend a specific firm on the bank approved panel?
We do not recommend specific Walsall firms as the right Walsall conveyancing firm for you depends on where your priorities lie. For example you may require a local firm with Walsall knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..