It has come to my attention via my broker that my Messingham property lawyer is not on the mortgage company Solicitor panel. What can I do to check?
The sensible course of action for you to take is to call your Messingham lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they may recommend you to a Messingham conveyancing practice that is on the approved list of lawyers for your lender.
Our solicitor has uncovered a defect with the lease for the flat we are purchasing in Messingham. The other side have offered title insurance as a solution. We are content with insurance and will cover the costs. Our solicitor says that he must ensure that the mortgage company is willing to move forward 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 solicitor must comply with the UK Finance Lenders’ Handbook requirements. 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 solicitor will have no choice but to discontinue acting for you.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Messingham?
There are many recorded licenced Conveyancers in Messingham and Solicitor firms in Messingham offering conveyancing We would stress that both are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. They may both also deal with other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
is it true that all Messingham solicitor practices on the UBS conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the UBS approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Some mortgage companies do permit licenced conveyancers on their panel in which case such organisation would be governed by the Council of Licensed Conveyancers.
Intending to buy a maisonette in Messingham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Nottingham conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Messingham solicitor is on the Nottingham conveyancing panel.
I have been told that property searches are the main reason for delay in Messingham conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any holding up conveyancing in Messingham.
Me and my brother purchased a terraced Edwardian property in Messingham. Conveyancing lawyer acted for me and Aldermore. I did a free Land Registry search last week and there are a couple of entries: one for freehold, another for leasehold with the exact same property. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Messingham and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with the conveyancing lawyer who carried out the work.