My solicitor has discovered a a legal deficiency with the lease for the property we are purchasing in Palmers Green. The seller’s lawyers have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our property lawyer says that he must check that the bank is happy with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions. 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 conveyancing practitioner will have no choice but to discontinue acting for you.
I had intended to instruct a property lawyer in Palmers Green for our house purchase. Our financial adviser has since notified us that our mortgage company Birmingham Midshires won't deal with them. Surely this is unfair competition?
Lenders normally imposes restrictions either the category or the amount of conveyancing solicitors on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. As well as restricting the type of firm, a few banks have decided to limit the number of solicitor practices they use to represent them. Be aware that Birmingham Midshires have no responsibility for the quality of advice provided by any member of Birmingham Midshires Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of solicitor panels since 2008 even though there remains differing views about the level of solicitor involvement in some of that fraud. Figures from the Land Registry indicate that hundreds of law firms, including some in or near Palmers Green only carry out one or two conveyances per annum.
I am expecting a OIP from Aldermore this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Aldermore recommend any Palmers Green solicitors on the Aldermore conveyancing panel, or is it better to go independently?
You will need to appoint Palmers Green solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
I have paid off my mortgage with Coventry BS. I assume I don't need a Palmers Green conveyancer on the Coventry BS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
I am due to exchange contracts on my apartment. I had a double glazing fitted in January 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Aldermore are being a right pain. The Palmers Green solicitor who is on the Aldermore conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore 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.
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 quick, chain free conveyancing. Palmers Green is the location of the property. What do you suggest?
Flying freeholds in Palmers Green are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Palmers Green you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Palmers Green 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 residence.
I am thinking of appointing a conveyancing solicitor in Palmers Green for my house move. Is there any facility to see a solicitor's complaints history with the legal regulator?
You can see presented Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, call +44 (0)121 329 6800. The SRA sometimes recorded call for training purposes.