Our solicitor has uncovered a defect with the lease for the apartment we are buying in Prenton. The other side have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer has advised that he must check that the bank is happy with this solution. Who is the client here, us or the mortgage company ?
Notwithstanding that you have a mortgage offer from the mortgage company 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 requirements. You and the bank are the client. These conveyancing instructions must be adhered to.
When does exchange of contracts take place for sale conveyancing in Prenton and do I need to attend the solicitors branch?
Where you are local to our conveyancing solicitors in Prenton you are welcome to come in to sign the paperwork. However, the lender approved solicitors we work with provide countrywide coverage for conveyancing and provide just as diligent and professional a job for you when dealing with you digitally. The executing of the contract is not the point of no return. Signing on the dotted line simply enables the conveyancer to exchange contracts at the appropriate time, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Prenton)to be in the office at the appropriate time.
My property lawyer in Prenton has never been on on the Godiva Mortgages Ltd Approved Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are excluded from the Godiva Mortgages Ltd panel of approved conveyancing solicitors?
Your options are as follows:
- Carry on with your preferred Prenton solicitors but Godiva Mortgages Ltd will need to use a solicitor on their panel. This will inevitably rack up the overall conveyancing charges as well as cause frustration.
- Get a new solicitor to act in the purchase, remembering to check they are on the Godiva Mortgages Ltd panel
Should my lawyer be making enquiries about flooding during the conveyancing in Prenton.
Flooding is a growing risk for conveyancers dealing with homes in Prenton. There are those who buy a house in Prenton, completely aware that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to give advice on flood risk, but there are a number of searches that can be initiated by the purchaser or by their lawyers which should figure out the risks in Prenton. The conventional set of information sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the seller to find out whether the property has ever been flooded. If the residence has been flooded in past and is not disclosed by the owner, then a purchaser may bring a compensation claim resulting from an incorrect response. A buyer’s lawyers will also carry out an environmental report. This should reveal if there is any known flood risk. If so, further investigations should be made.
In my capacity as executor for the estate of my uncle I am disposing of a property in Swansea but live in Prenton. My solicitor (approximately 300 miles from merequires that I sign a stat dec before completion. Can you recommend a conveyancing practitioner in Prenton to attest this legal document for me?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are Prenton based
Me and my partner are about to exchange on the purchase a house in Prenton but as a consequence of damage from the recent storms I have agreed recompense from the vendor of £2k in the form of a reduction in the price. This was going to be dealt with as part of the conveyancing process but my lender will not agree to this. Why were they informed?
Your lawyer being on a mortgage company approved list is duty bound to inform the mortgage company of any amendments to the sale figure. If you prohibit your property lawyer to disclose the price change to your mortgage company then they would have no choice but to disinstructing themselves from acting for you and the mortgage company.