My solicitor has uncovered a defect with the lease for the flat we are buying in Worplesdon. The seller’s lawyers have put forward title insurance as a solution. We are content with insurance and will cover the costs. Our conveyancer has advised that he must check that the bank is willing to move forward with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your conveyancer 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 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 property lawyer will have no choice but to discontinue acting for you.
I am expecting a DIP from Principality this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Principality recommend any Worplesdon solicitors on the Principality conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Worplesdon solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
I have decided to exercise my right to buy my property in Worplesdon off the council. I have a mortgage agreed with HSBC. Conveyancing is not something I have any knowledge of. 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 HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
I currently have a mortgage with Co-operative for my property in Worplesdon. Conveyancing has been completed a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Co-operative?
Co-operative must be informed of your intention before letting out your property as this is likely to be a breach of Co-operative’s mortgage conditions. It may be that Co-operative will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Co-operative directly. It should not be necessary to do this via a Co-operative conveyancing panel firm.
Due to the input of my in-laws I had a survey completed on a property in Worplesdon in advance of instructing solicitors. I have been advised that there is a flying freehold element to the property. My surveyor advised that some lenders may refuse to grant a loan on this type of house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. If you contact us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Worplesdon. Conveyancing may be slightly more expensive based on your lender's requirements.
What tools are available to search for a Worplesdon law firm on the National Westminster Bank conveyancing panel? I have a car and am prepared to travel upto 10miles to meet the conveyancer.
Feel free to make use of the tool on this website. Please choose the mortgage company and your location and you will see a number of Worplesdon conveyancing lawyers located nearest you. We have detailed some Worplesdon conveyancing firms at the bottom of this page and you can ring them to verify if they are on the National Westminster Bank approved list
My brother has urged me to appoint his conveyancers in Worplesdon. Do I follow his recommendation?
No doubt the ideal way to choose a conveyancing practitioner is to seek feedback from friends or relatives who have actually experience in using the solicitor that you are considering.