My lawyer has identified a a problem with the lease for the property we are purchasing in Box. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancer says that he must check that the lender is content with this solution. Who is the client here, us or the lender?
Notwithstanding that you have a mortgage offer from the bank 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 conditions. You and the bank are the client. These conveyancing instructions have to be complied with.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Box. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 15/11/2024, the requirements read as follows :
Are all Box Conveyancing Quality Solicitors on the Lloyds conveyancing list of approved firms?
A selection of banks and building societies now make use of the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of firms.
My fiancee and I are spending time viewing apartments in Box and I am now considering a potential offer. Is it advisable to have a conveyancing practitioner on ‘stand by’? I intend to finance via a home loan with Clydesdale.
You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. Given that you are getting a mortgage with Clydesdale, ask your prospective lawyers if they are on the Clydesdale conveyancing panel otherwise they can't do the mortgage legal work.
I am currently in the process of buying my council flat in Box. I have a mortgage agreed with Co-operative. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have 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 Co-operative, you will need to appoint a solicitor on the Co-operative conveyancing panel.
The deeds to our house are lost. The solicitors who dealt with the conveyancing in Box 5 years ago no longer exist. What do I do?
Gone are the days when you need to hold title original deeds to prove you own the land or property, as the Land Registry have everything they need in a digital format.
Due to the advice of my in-laws I had a survey completed on a house in Box in advance of instructing solicitors. I have been told that there is a flying freehold element to the house. Our surveyor advised that some banks tend not issue a loan on such a home.
It varies from the lender to lender. Santander has different instructions from Nationwide. Should you wish to call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Box. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Box to see if the conveyancing will be more expensive.