The Elm Park conveyancing firm handling our Elm Park conveyancing has spotted a difference when comparing the information in the valuation report and what is revealed within the conveyancing documents. My solicitor has advised that he is obliged to check that the lender is happy with this discrepancy and is still content to lend. Is my conveyancer’s approach correct?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications 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.
Do the Building Society Association intend to launch a online directory to to identify practices on the Coventry BS conveyancing panel for example in Elm Park?
We would not expect to be advised of any intention on the part of the BSA to develop such a tool.
I am buying my first flat in Elm Park with a mortgage from Platform Home Loans Ltd. The builders refused to budge the price so I negotiated £7000 of additionals instead. The house builders rep suggested that I not disclose to my lawyer about this deal as it may affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Elm Park is where the house is located. Can you shed any light on this issue?
Flying freeholds in Elm Park are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Elm Park you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Elm Park may ascertain 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 premises.
I am 17 days into a residential purchase having been referred to solicitors by the high street agent to carry out the conveyancing in Elm Park. I am am very disappointed with the quality of service. Could you you assist me in finding new solicitors?
They would need to be very bad to suggest replacing them. Has the mortgage offer been issued? In the event that it has you need to advise them of the new contact details and ensure the mortgage documents are re-sent. The solicitor ideally should be on the mortgage company approved list to avoid escalating fees and delays. So that should be your starting point. Our search tool should assist you in finding a bank approved lawyer for your conveyancing in Elm Park
My in 2008. He has been wed, widowed and has recently remarried. He now wants to the sell the Elm Park property. I believe he will simply be requested to supply copies of his marriage certificates to the conveyancing practitioner but he is anxious it could hold up the sale of the apartment. Should he appoint a lawyer to update the Land Registry information for the house?
You are not required to update the register providing you have the proof required to show how the change of name occurred.
The purchaser’s conveyancing practitioner will review the title information and request evidence to establish the name change for example marriage documentation.