Our solicitor has discovered a defect with the lease for the flat we are purchasing in Stansted. The other side have offered title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer says that he must be satisfied that the mortgage company is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
Even though you have a mortgage offer from the bank 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 mortgage company are the client. These conveyancing instructions have to be complied with.
I am assisting my niece sell her property in Stansted. Does the conveyancer arrange the energy assessment or it is for the owner to coordinate?
After the abolition of Home Packs, energy performance certificates was left as a required element of moving property. An energy assessment needs to be commissioned in advance of the property being put on the market. It is not a task that conveyancers ordinarily organise. If you are using a Stansted conveyancing solicitor they may be willing to arrange energy performance certificates given their contacts with reputable Stansted energy assessors
We are due to move home in November. Should my conveyancing solicitor liaise with the removal company on the day of completion. On a separate note, can you put forward a removal company in Stansted. Conveyancing lawyer was organised prior to coming across your site.
On the afternoon of completion you can collect the keys from your estate agent however this can only happen when the previous owners conveyancers confirm to the agent that they have the completion monies and the keys can be released. After that you should inform the removal men that they can start moving you in. As a matter of policy we do not recommend a particular removal company but can help you choose a residential property solicitor in Stansted or a solicitor with expertise in conveyancing in Stansted.
TSB have agreed my home loan in principle, my bid on a house in Stansted has been accepted, what happens next?
The property agent will need to know who your solicitors are (ensure that the lawyers are on the lender’s approved list). Telephone TSB or the financial adviser and finish off any appropriate forms. TSB will instruct a valuer who will get in contact with the estate agent or vendor to book a time for the valuation to happen. Once carried out (assuming no problems) it takes on average a fortnight to get a mortgage offer. TSB will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Stansted.
Should my solicitor be raising enquiries about flooding as part of the conveyancing in Stansted.
The risk of flooding is if increasing concern for conveyancers carrying out conveyancing in Stansted. There are those who acquire a house in Stansted, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, but there are a various searches that can be initiated by the buyer or on a buyer’s behalf which should figure out the risks in Stansted. The conventional set of information given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard question of the owner to determine whether the property has suffered from flooding. If flooding has previously occurred which is not disclosed by the owner, then a buyer may issue a claim for damages as a result of such an inaccurate reply. The buyer’s lawyers may also order an enviro report. This will disclose if there is any known flood risk. If so, further inquiries should be conducted.
I'm buying my first flat in Stansted with a loan from Britannia. The developers would not budge the price so I negotiated 6k of additionals instead. The property agent suggested that I not reveal to my solicitor about this deal as it could affect my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Is it simple use the search facility to find a conveyancing practitioner in Stansted on the panel for my lender?
1st pick a lender such as HSBC Bank, Barnsley Building Society or TSB then type in your preferred area a common one being Stansted. Conveyancing practices in Stansted and further afield will then be listed.