Our Henllan lawyer has discovered a difference between the assumptions in the valuation survey and what is in the legal papers for the property. My solicitor has advised that he must ensure that the bank is OK with this discrepancy and is content to go ahead. Is my conveyancer’s approach legitimate?
Your solicitor 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.
Do lenders provide you with an approved list of Henllan conveyancing solicitors? How do you know who is on the Nottingham conveyancing panel?
Henllan conveyancing firms themselves provide us confirmation that they are on the Nottingham conveyancing panel as opposed to being supplied with a list from Nottingham directly.
We're in Henllan, FTBs buying with a mortgage (lender is Santander , and our lawyer is on the Santander conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Santander conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Forgive me if this question is silly but I am unexperienced as FTB of a garden flat in Henllan. Do I pick up the keys to the property on the completion date from my lawyer? If so, I will use a High Street conveyancing solicitor in Henllan?
On the day of completion you will not be required to go to the conveyancers office in Henllan. Your solicitors will transfer the completion advance to the vendor’s conveyancers, and once they have received this, you should be invited to receive the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
Is it correct that all Henllan CQS (Conveyancing Quality Scheme) solicitors are on the Leeds Building Society conveyancing list of approved practices?
It is true that some banks and building societies now use CQS as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
Intending to buy a flat in Henllan. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Aldermore conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Henllan property lawyer is on the Aldermore conveyancing panel.
I'm purchasing a new build house in Henllan with the aid of help to buy. The developers would not budge the price so I negotiated £7000 of extras instead. The property agent advised me not reveal to my conveyancer about this side-deal as it will impact my loan with Alliance & Leicester . Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a quick, chain free conveyancing. Henllan is where the house is located. Can you offer any advice?
Flying freeholds in Henllan are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Henllan you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Henllan may determine 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 residence.