My solicitor has identified a a problem with the lease for the property we are purchasing in Machynlleth. The other side have put forward defective title insurance as a solution. We are happy with insurance and will cover the costs. Our property lawyer says that he must check that the mortgage company is willing to move forward with this solution. Who is the client here, us or 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 solicitor 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 conveyancer will have no choice but to discontinue acting for you.
This question may be naive but I am unseasoned as FTB of a ground floor flat in Machynlleth. Do I receive the keys to the house on completion from my lawyer? If this is the case, I will appoint a local conveyancing solicitor in Machynlleth?
On the day of completion you do not need to go to the conveyancers office in Machynlleth. Your solicitors will arrange to send the completion advance to the seller's conveyancers, and once they have received this, you will be invited to collect the keys from the property Agents and move into your new home. Usually this occurs early afternoon.
I have decided to exercise my right to buy my property in Machynlleth off the council. I have a mortgage agreed with Kent Reliance. 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 Kent Reliance, you will need to appoint a solicitor on the Kent Reliance conveyancing panel.
Completion of my remortgage has taken place for my property in Machynlleth. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Despite weeks of looking the Title Certificate and documents to our home are lost. The solicitors who did the conveyancing in Machynlleth 4 years ago are no longer around. What are my next steps?
You no longer need to hold title deeds to prove you are the registered proprietor of land or property, as the Land Registry hold details of all registered land or property electronically.
How does conveyancing in Machynlleth differ for newly converted properties?
Most buyers of new build property in Machynlleth contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Machynlleth usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Machynlleth or who has acted in the same development.
My father has recommend that I use his conveyancers in Machynlleth. Do I follow his guidance?
No doubt it’s preferable to select a conveyancing solicitor is to get guidance from friends or relatives who have actually experience in using the conveyancer that you are contemplating using.