Our solicitor has identified a a problem with the lease for the property we are purchasing in Warwickshire. The other side have put forward title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer says that he must ensure that the mortgage company is content with this solution. Who is the client here, us or the bank?
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 lender 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 lawyer will have no choice but to discontinue acting for you.
My bid for a property was accepted at auction in Warwickshire. Conveyancing is necessary. What is next?
Now that you have for all intents and purposes signed on the dotted line you now have to hire the services of a conveyancing solicitor as a matter of urgency as you are faced with a tight a drop dead date to complete the purchase. An auction property should have a corresponding legal pack. This will include most,if not all of the documents that your conveyancer will need. Where you are dealing with leasehold property the auction pack should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You should give this to your appointed conveyancing solicitor as soon as possible. Do make sure that you have funds in place to complete on the date specified in the contract.
How can we tell if a Warwickshire conveyancing solicitor on the TSB panel is any good?
When it comes to conveyancing in Warwickshire getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer conducting your transaction.
Last month we had a mortgage agreed in principle with Yorkshire BS. Warwickshire conveyancing solicitors are appointed. What is the average time that one could expect to receive a mortgage offer from Yorkshire BS?
Some lenders take longer than others. Have Yorkshire BS completed the valuation? Have you advised Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Warwickshire?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Warwickshire. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying a new build house in Warwickshire with a loan from Aldermore. The sellers refused to budge the amount so I negotiated 6k of fixtures and fittings instead. The sale representative advised me not to tell my conveyancer about the side-deal as it could adversely affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Warwickshire is the location of the property. Can you offer any assistance?
Flying freeholds in Warwickshire are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Warwickshire you would need to get your solicitor to go 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 Warwickshire may decide 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 property.
What do I do if I am dissatisfied with the lawyer who handled our conveyancing in Warwickshire?
We live in an imperfect world, and is is a fact of life that occasionally matters do not go as planned. However there is recourse where you were unhappy with your conveyancing in Warwickshire. This varies from trying to resolve matters directly with them, through to reporting a conveyancer to their regulator. If you remain dissatisfied you may consider getting in touch with the Legal Ombudsman.