6:30 AM, 6th August 2021, About 3 years ago 16
I am selling a leasehold flat and 50% share of the freehold. I have a buyer, they have received a mortgage offer. I am doing my own conveyancing. The buyer’s Conveyancers have agreed on the documentation and the Deed of Variation (to extend the lease to 999 years and reduce the Ground Rent to a peppercorn per annum) and all with them held to my order.
The buyer’s lender, TSB, have according to the buyer’s Conveyancers, now demanded at the 11th hour that the Deed of Variation is registered at HM Land Registry prior to completion and not registered by the buyer’s Conveyancers after completion along with the TR1’s etc (though a simultaneous exchange of contracts and completion has been agreed) AND that in order to proceed with this transaction I have to have a solicitor.
My question: can a lender demand a seller to use a solicitor for the conveyance? This is contrary to the Legal Services Act s10 which exempts me from s14-16 as not doing the conveyance for a fee or monetary gain.
For what it’s worth, I have a law degree and 40 years of experience doing my own conveyancing.
The buyer’s Conveyancers are acting for the lender’s interests as well as their client’s interests.