Our conveyancer has discovered a defect with the lease for the apartment we are purchasing in Fleet. The other side have put forward defective title insurance as a workaround. We are content with insurance and will cover the costs. Our 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 lender are the client. Your must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank 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 will have no choice but to discontinue acting for you.
My home in Fleet is up for sale and I have a purchaser. Will the need to be required to be on the conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.
I am purchasing a property in Fleet. A rare aspect is that the roof has a solar panel. have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with your lawyer must check the conveyancing instructions set out in Section two of UK Finance Lenders’ Handbook for . The CML Handbook stipulates minimum specifications for solar panel roof-space leases, and are required to report to where a lease fails to comply with these conditions. The conditions relate to the installation of panels on properties in England and Wales and is not limited to Fleet.
I have paid off my mortgage with . I assume I don't need a Fleet on the panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the mortgage from the register. , and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where has sent the Land Registry the discharge electronically, and
- has instructed the Land Registry to do so
After what feels like an age I have had an offer on a maisonette in Fleet accepted, the owners do nevertheless have a dependent purchase. The owners have offered on a flat, but it’s not yet tied up, and are looking at other properties booked. I have instructed a high street conveyancing solicitor in Fleet. What do I do now? When should I get the mortgage application with started?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx one thousand pounds, then valuation, Fleet conveyancing search charges, etc). The first thing to do is check that your is on the conveyancing panel. Regarding the next steps this very much dictated by the uniqueness of your transaction, desire for the property and on the state of the market. During a rising market many buyers will apply for the mortgage with and arrange for the valuation and only if it was satisfactory would they ask their to proceed with searches.
My wife and I are planning on selling our property in Fleet and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any high street Fleet conveyancer would know that there is no such problem. For the life of me I don't know why the buyers used an online conveyancing practice rather than a conveyancing solicitor in Fleet. Having lived in Fleet for 5 years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain clarification need.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Are there restrictive covenants that are commonly picked up as part of conveyancing in Fleet?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Fleet. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’