Our conveyancer has uncovered a a problem with the lease for the flat we are buying in Sneyd Park. The other side have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our property lawyer has advised that he must ensure that the mortgage company is content with this solution. Are we the client or is the mortgage company ?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the bank are the client. The appropriate lender provisions have to be complied with.
I have been recommended a conveyancing solicitor in Sneyd Park. I I am struggling to find out if they are accepted on the Bank of Scotland conveyancing panel. Could you help?
You should phone your lawyer and enquire whether they are on the lender panel. Otherwise you can get in touch with Bank of Scotland who may be able to help.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Sneyd Park?
There are many recorded licenced Conveyancers in Sneyd Park and Solicitor practices in Sneyd Park to choose from It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal work in the home buying process. They may both also handle other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Is it correct that all Sneyd Park CQS (Conveyancing Quality Scheme) solicitors are on the Coventry BS conveyancing list of approved solicitors?
A selection of banks and building societies now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
I have instructed a Sneyd Park property lawyer having checked that they are on the HSBC conveyancing panel. Does my lawyer arrange the survey of the property?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Sneyd Park postcode. As you are getting a mortgage with HSBC, you could contact them to see if they have a list of approved surveyors in Sneyd Park.
I note that there are debates on Chancel Insurance on online forums. Am I compelled to have this when acquiring a residence in Sneyd Park? or Apparently there is an ancient law that could mean that house owners living in a parish church boundary will be compelled to pay for maintenance to the chancel in proximity to the church. Is this appropriate for conveyancing in Sneyd Park?
Unless a prior purchase of the house completed after 12 October 2013 you may assume that conveyancing practitioners handling conveyancing in Sneyd Park to continue to recommend a chancel search and or insurance against a claim.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what was supposed to be a quick, chain free conveyancing. Sneyd Park is where the house is located. Can you shed any light on this issue?
Flying freeholds in Sneyd Park are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Sneyd Park you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sneyd Park may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.