My lawyer has uncovered a a problem with the lease for the apartment we are purchasing in Malden. The seller’s lawyers have suggested title insurance as a solution. We are content with insurance and will pay for it. Our solicitor has advised that he must ensure that the lender is content with this solution. Are we the client or is the lender?
Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. These conveyancing instructions must be adhered to.
Various online forums that I have come across warn that are the main cause of stalling in Malden house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances during the legal transfer of property. Searches are not likely to be the root cause of holding up conveyancing in Malden.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Malden is the location of the property. What do you suggest?
Flying freeholds in Malden are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Malden you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Malden 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.
How simple is it to transfer to a new solicitor as I need to appoint one who is on the Halifax conveyancing panel. I had appointed a high street conveyancing solicitor in Malden round the corner but the firm is not approved by Halifax
It would be our pleasure to help you find a conveyancing solicitor in Malden on the Halifax panel. Please note that the conveyancers that we on the directory do not pay us fee if you instruct them and are under regulation of the Solicitors Regulation Authority who regulate all conveyancing solicitors in Malden. In utilising search facility on this site, you can scrutinise fees for conveyancing solicitors in Malden and throughout England and Wales.
Builders have suggested I use a conveyancing practitioner and I've obtained a quote from them. They are almost £250 cheaper than my local Malden conveyancer. Should I use them?
Housebuilders frequently have lists of conveyancers who are quick and who know the developer’s contract and conveyancer. As many developers offer an inducement to choose their approved lawyer for this reason, any increased fees can be avoided and a builder won't suggest a conveyancing warehouse and run the risk of having the conveyancing stall when they need an exchange within a tight time frame. The argument for not opting for the suggested solicitor is that they may prove reluctant to 'push' your interests at the risk of upsetting the sellers. If you worry that this may be the case you should remain with your local Malden conveyancing practitioner.