My conveyancer has discovered a a problem with the lease for the apartment we are purchasing in Tetbury. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will pay for it. Our property lawyer says that he must ensure that the bank is happy with this solution. Are we the client or is the mortgage company ?

The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your property lawyer 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 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 solicitor will have no choice but to discontinue acting for you.

It is 10 years ago since I bought my property in Tetbury. Conveyancing solicitors have just been retained on the sale but I can't track down the deeds. Is this a major issue?

You need not be too concerned. First there is a possibility that the deeds will be kept by the lender or they could be in the possession of the conveyancers who oversaw the purchase. Secondly in all probability the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. Most conveyancing in Tetbury relates to registered property but in the rare situation where your home is not registered it is more of a problem but is not insurmountable.

I'm purchasing a new build house in Tetbury with a mortgage from Accord Mortgages Ltd. The builders refused to reduce the price so I negotiated 6k of fixtures and fittings instead. The sale representative advised me not disclose to my lawyer about this extras as it could adversely affect my loan with Accord Mortgages Ltd. Do I keep my lawyer in the dark?.

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.

What makes a Tetbury lease unacceptable for security purposes?

Leasehold conveyancing in Tetbury is not unique. All leases are individual and drafting errors can sometimes mean that certain sections are missing. For example, if your lease is missing any of the following, it could be defective:

Insurance obligations

A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Virgin Money, and Britannia all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.

Tetbury Conveyancing for Leasehold Flats - A selection of Queries before buying

What is the the remaining lease term? If a Tetbury lease has fewer than eighty years it will affect the marketability of the property. It is worth checking with your lender that they are content with the length of the lease. A short lease means that you will probably need a lease extension at some point and it is worth discovering what this will be. For most Tetburylease extensions you will be be obliged to have owned the property for a couple of years before you are legally able to exercise a lease extension. What restrictions are contained in the Tetbury Lease?

I am buying a house and require a conveyancing solicitor in Tetbury who is on the bank approved panel. Can you recommend a Tetbury or local Tetbury conveyancing firm?

Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the mortgage company who carry out conveyancing in Tetbury. We dont recommend any particular firm.