The Hemel Hempstead conveyancing firm handling our Hemel Hempstead conveyancing has spotted an inconsistency between the surveyor’s assumptions in the home valuation survey and what is revealed within the title deeds. My lawyer has advised that he must check that the lender is happy with this discrepancy and is still content to lend. Is my lawyer’s course or action appropriate?
Your conveyancer 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.
Is there a reason why leasehold purchase conveyancing in Hemel Hempstead is more expensive?
Hemel Hempstead leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
When looking at moneysavingexpert.com for an affordable solicitor in Hemel Hempstead, many comment that I must instruct a CQS assured solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home moving process, trusted by some of the UK's biggest banks. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Council of Mortgage Lenders (CML). The scheme does not cover licenced conveyancers. Hemel Hempstead is one of the numerous areas of the UK where there are Accredited solicitors.
I happen to be the sole recipient of my late grandmother’s estate with all property in now in my sole name, including the my former home in Hemel Hempstead. The Hemel Hempstead property was put into my name in April. I want to move. I do know about the CML 6 month 'rule', which means that my property ownership could be considered the same way as if I'd bought the house in April. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. many lenders would take a practical view as this clause primarily exists to capture subsales or the wholesaling and assigning of properties.
Is it the case that all Hemel Hempstead solicitor practices on the TSB conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the TSB approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Many mortgage companies do allow licenced conveyancers on their panel and in such a situation the firms would be regulated by the Council of Licensed Conveyancers.
Completion of my purchase has taken place for my property in Hemel Hempstead. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
2 months have elapsed following my purchase conveyancing in Hemel Hempstead concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Am I better off to go with a Hemel Hempstead conveyancing practitioner in close proximity to the house I am purchasing? An old friend can deal with the conveyancing but his firm is located a couple of hundredkilometers drive away.
The primary upside of using a high street Hemel Hempstead conveyancing firm is that you can pop in to execute documents, present your ID and apply pressure on them where appropriate. Having local Hemel Hempstead know how is a benefit. However it's more important to get someone that will do a good and efficient job. If other friends have used your friend and the majority were content that should trump using an unknown Hemel Hempstead conveyancing solicitor just because they are Hemel Hempstead based.