Our conveyancer has uncovered a a legal deficiency with the lease for the property we are buying in Blaina. The seller’s lawyers have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancing practitioner has advised that he must ensure that the lender is happy with this solution. Who is the client here, us or the lender?
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 lawyer must comply with the UK Finance Lenders’ Handbook specifications. 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 solicitor will have no choice but to discontinue acting for you.
Completed the sale of my flat in Blaina last October but my buyer keeps texting daily complaining that his lawyer needs to hear from myconveyancer. What are the post completion sale formalities now that I have sold?
After completion of your disposal your conveyancer should send the transfer documentation and all additional paperwork to the buyer’s conveyancer. If applicable, your lawyer must also send confirmation that the legal charge in favour of the lender has been discharged to the purchasers lawyers. There are no post completion procedures peculiar conveyancing in Blaina.
Various online forums that I have frequented warn that are the number one cause of obstruction in Blaina house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any holding up conveyancing in Blaina.
I decided to have a survey completed on a property in Blaina prior to appointing conveyancers. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some banks may refuse to give a loan on this type of home.
It varies from the lender to lender. Bank of Scotland has different requirements from Birmingham Midshires. If you call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Blaina. Conveyancing will be smoother if you use a solicitor in Blaina especially if they are acquainted with such properties in Blaina.
How easy is it to use your search facility to select a conveyancing solicitor in Blaina on the authorised to act for my lender?
1st select a lender such as HSBC Bank, Chelsea Building Society or Barclays Direct then specify your location e.g. Blaina. Conveyancing organisations in Blaina and nationally should be identified.