Unfortunately I am unable to travel far from Ratcliff. Is there a reason why all Ratcliff lawyers aren't included on all bank panels?
Mortgage companies highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The dismissal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. This led to banks and building societies purging less reputable firms off their official list of approved solicitors .
The Ratcliff conveyancing firm handling our Ratcliff conveyancing has spotted a difference between the information in the valuation report and what is in the conveyancing documents. My lawyer says that he is duty bound to check that the bank is happy with this discrepancy and is content to go ahead. Is my lawyer’s course or action right?
Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I am purchasing a victorian detached house in Ratcliff. Our aim is to convert the garage to a playroom at the house.Will legal investigations on the property include investigations to see if these works are prohibited?
Your conveyancer will check the registered title as conveyancing in Ratcliff can on occasion reveal restrictions in the title documents which prevent certain works or need the permission of another owner. Many extensions need local authority planning consent and approval in accordance building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these things with a surveyor before you commit yourself to a purchase.
Last month we had a mortgage agreed in principle with Virgin Money. Ratcliff conveyancing lawyers have been appointed. How long does it take for Virgin Money to issue the offer to the lawyer?
Some lenders take longer than others. Have Virgin Money done the survey? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
My wife and I are in the process of viewing apartments in Ratcliff and I am now considering a potential offer. Is it too early to have a solicitor in place? I will be getting a home loan with HSBC.
It would be advisable to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the EA. As you are seeking a mortgage with HSBC, make sure you remember to check that your lawyer is on the HSBC conveyancing panel.
What does a local search tell me about the house we're purchasing in Ratcliff?
Ratcliff conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search organisations for example Xpress Legal The local search plays a central role in most Ratcliff conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your property. The search will provide data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Ratcliff is the location of the property. What do you suggest?
Flying freeholds in Ratcliff are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ratcliff you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ratcliff 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 property.
I was pointed in your direction by numerous estate agents in Ratcliff to locate a property lawyer on your site. What’s the financial advantage for Estate Agents to promote your site over another?
We refuse to give any commission for sending work to this site. We found it would be just too difficult to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.