My partner and I are hoping to purchase a home in Tonbridge and are in fact using a Tonbridge conveyancing firm. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Barclays have this morning contacted us to inform me that there is now an issue as our Tonbridge lawyer is not on their conveyancing panel. Is this a problem?
Where you are buying a property with the assistance of a mortgage it is standard for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Tonbridge lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
My solicitor has identified a a legal deficiency with the lease for the property we are purchasing in Tonbridge. The other side have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our conveyancing practitioner has advised that he must check that the bank 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 property lawyer must comply with the UK Finance Lenders’ Handbook provisions. 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.
Are there restrictive covenants that are commonly picked up during conveyancing in Tonbridge?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Tonbridge. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the encouragement of my in-laws I had a survey completed on a property in Tonbridge prior to instructing lawyers. I have been told that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies tend refuse to give a mortgage on this type of home.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. If you call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Tonbridge. Conveyancing will be smoother if you use a solicitor in Tonbridge especially if they regularly deal with such properties in Tonbridge.
I need to retain a conveyancing solicitor for leasehold conveyancing in Tonbridge. I've land on a site which seems to have the ideal answer If there is a chance to get all this stuff done via email that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?