Me and my husband are acquiring a leasehold flat in Stapleton. My Conveyancer is not on the lender conveyancing list. Am I still permitted to continue with my Stapleton conveyancing solicitor notwithstanding that they are not on the mortgage company approved list?
You must have a lawyer to complete the legal work required when you need a mortgage to buy your property. The conveyancer will conduct all the essential due diligence on the property, ensuring that you will be registered as proprietor and ensure that all the required mortgage documentation is in place. You may select a Stapleton solicitor of your choosing. However, where the solicitor selected is not a member of the bank approved list additional charges will arise as separate legal representation will be required by them. Conveyancing panel applications may be submitted, so if your conveyancer has not historically sought membership they should take the opportunity to apply.
My lawyer has discovered a a legal deficiency with the lease for the apartment we are purchasing in Stapleton. The other side have put forward title insurance as a solution. We are content with insurance and will pay for it. Our conveyancer has advised that he must be satisfied that the mortgage company is happy with this solution. Are we the client or is the bank?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. These conveyancing instructions must be adhered to.
is it true that all Stapleton solicitor firms on the Santander conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Santander approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. The majority of mortgage companies do permit licenced conveyancers on their panel and in that case the firms would be regulated by the Council of Licensed Conveyancers.
I have instructed a Stapleton property lawyer having checked that they are on the Santander conveyancing panel. Does my lawyer arrange the survey of the property?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander 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 conveyancing practitioner 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 Stapleton postcode. As you are getting a mortgage with Santander, you could contact them to see if they have a list of approved surveyors in Stapleton.
At last I have had an offer on a maisonette in Stapleton accepted, the sellers do nevertheless have an associated purchase. The owners have offered on on an apartment, but it’s not yet tied up, and are looking at other properties in the pipeline. I have chosen a local conveyancing solicitor in Stapleton. What do I do now? At what point should I apply for the mortgage with Santander?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then survey, Stapleton conveyancing search charges, etc). The first thing to do is check that your conveyancer is on the Santander conveyancing panel. Regarding the next phase this very much depends on the circumstances of your case, motivation for the property and on the state of the market. In a buoyant market some purchasers would apply for the mortgage with Santander and pay for the valuation and only if it was satisfactory would they ask their property lawyer to move forward with searches.
A relative suggested that if I am purchasing in Stapleton I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Stapleton conveyancing searches. It is a large report of about 40 pages, listing and detailing important information about Stapleton around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Stapleton Education with plans and statistics, Local Amenities and other useful information regarding Stapleton.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a simple, chain free conveyancing. Stapleton is the location of the property. What do you suggest?
Flying freeholds in Stapleton are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Stapleton you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stapleton may decide 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 premises.