I was advised yesterday by my lender that my Woodbury property lawyer is not on the lender Conveyancing panel. How can I check?
The first thing you need to do is to call your Woodbury lawyer directly. You lawyer should advise you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your lender.
My Woodbury solicitor has identified a discrepancy between the surveyor’s assumptions in the home valuation report and what is revealed within the title deeds. My solicitor says that he is duty bound to ensure that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action correct?
Your 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 both parties.
Can I use your services to locate a Conveyancing solicitor in Woodbury even where I’m not buying or disposing of a house, for example where I intend to buy an office in Woodbury with a loan from Nottingham Building Society?
The service is predominantly there to find residential conveyancing solicitors in Woodbury but we have recorded towards the bottom of this page some Woodbury commercial conveyancing firms. You should make contact with the solicitors directly to establish if they can also act for Nottingham Building Society
I have an AIP. The lender mentioned the home loan came with free conveyancing. Is the implication that I have to use their panel solicitor as I would prefer to appoint a specialised conveyancing solicitor in Woodbury?
You should check but the the likelihood is that appoint one of their panel lawyers where you accept the "fee-free" deal. Speak to the lender to explore if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor in Woodbury.
I have been on the look out for a leasehold apartment up to £245,000 and found one near me in Woodbury I like with a park and railway links nearby, however it only has 61 remaining years left on the lease. There is not much else in Woodbury in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
I am purchasing a house and cash is in place. My solicitor has been supplied with with 2 distinct evidence of photo identification, bank statement, numerous utility bills. Now he requires a copy from a probate lawyer advising that the money is legitimate and that it has come from inheritance and not dealing E's in Ibiza.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Woodbury conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.