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JGM, Solicitor
Category: Law
Satisfied Customers: 16227
Experience:  30 years as a practising solicitor.
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I have a conveyancing question, Scotland, We have had our

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I have a conveyancing question
JA: Where are you? It matters because laws vary by location.
Customer: Scotland
JA: What steps have you taken so far?
Customer: We have had our offer accepted
JA: Anything else you want the Lawyer to know before I connect you?
Customer: It is a question about conflict of interest and how we proceed on that basis

Thanks for your question. I am a solicitor in Scotland with 35 years of experience in private practice and I hope that I can help you with your question today. Let me have a quick look at your question and I will either give you an initial answer or ask you for further information. I aim to respond as quickly as I can but sometimes I may want to take a little time to consider your question so as to give you the best possible answer.

Can you explain your situation a little more please? The more information I have, the better I will be able to answer your question and that is what I want to be able to do.

Customer: replied 2 day ago.
Thank you. We have had our offer accepted to buy a vacant property in Angus that is being sold as a repossession by the mortgage company. We are 3 weeks into the process (pre missives completion) and the seller (the mortgage company) has been difficult to deal with, for example refusing access to allow us to get surveys completed or access to allow an architect to do an assessment to create a letter of comfort for a range of works that have been completed (Grade C listed building) without consents in place. The view of the seller is 'we would only consider such requests if the lender insisted on them. We have literally just realised this evening that our lender is actually the exact same company who are selling the property to us. The mortgage company themselves have not yet realised this either. Having googled it I can't find any examples of situations like this. Where does this leave us - can the mortgage company be both the seller and the lender in this case or is that a fatal conflict of interest.

This is a very common issue insofar as the seller mortgage company’s solicitors want to give you as little paperwork as possible yet your own offer of loan, from the same company, wants the usual paperwork as laid out in the Handbook. Deal with it in this way. 1. Your solicitor has to make it clear to the selling solicitor that the lender selling the repo is the same as the lender lending to you. 2. Your financial adviser to whoever is dealing with your own mortgage must contact the lender to advise them that the standard conditions of your mortgage offer can’t be fulfilled because their own solicitors and selling agents won’t cooperate. With a little luck they will sort this out so that your purchase can progress. There is no conflict as long as the lender cooperates. I hope this helped you today. Please do let me know if I can clarify anything. I am always happy to help. You are always welcome to ask a follow up question if it will help you further.

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Customer: replied 2 day ago.
Ok great and thank you, ***** ***** let our solicitor know and also our mortgage broker so both are aware. That was really helpful- much appreciated

You’re welcome. I hope this helped you today. Please do let me know if I can clarify anything, I am always happy to help. You are always welcome to ask a follow up question.