Our Isle of Sheppey lawyer has spotted a difference between the information in the home valuation report and what is revealed within the legal papers for the property. My solicitor informs me that he is obliged to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my lawyer’s course or action 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 you.
My Solicitor in Isle of Sheppey has never been on on the Birmingham Midshires Conveyancing Panel. Can I still use my prefered solicitor even though they are excluded from the Birmingham Midshires panel?
The limited options open to you here include:
- Carry on with your preferred Isle of Sheppey solicitors but Birmingham Midshires will need to instruct a conveyancer on their list of acceptable firms. This will inevitably rack up the total legal fees and cause delays.
- Get an alternative solicitor to act in the conveyancing, obviously checking they are on the Birmingham Midshires panel
Have just purchased a repossessed house at auction in Isle of Sheppey. Conveyancing is necessary. What is next?
Given that you are now legally bound yourself to purchase you will need to find a conveyancing lawyer quickly as you now have a tight a fixed date to complete the property. An auction property should have a corresponding legal set of papers. This should include most,if not all of the paperwork that your conveyancer requires. In the case of leasehold premises the conveyancing pack should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation specific to leasehold premises. You need to pass this on to your appointed conveyancing solicitor as soon as possible. Do make sure that your finances are in place to complete on the on the contractual date .
I am currently in the process of buying my council flat in Isle of Sheppey. I have a mortgage agreed with Coventry BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
I recently had an offer agreed on a house in Isle of Sheppey. My financial adviser pressured me to appoint their lawyer. I paid an upfront payment of £200. Not long after, the solicitor called me to say that they were not on the Coventry BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Coventry BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I'm buying a new build house in Isle of Sheppey with a loan from TSB. The sellers refused to budge the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not reveal to my lawyer about this side-deal as it would impact my mortgage with the lender. 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.
I opted to have a survey carried out on a house in Isle of Sheppey prior to appointing lawyers. I have been informed that there is a flying freehold aspect to the property. My surveyor has said that some lenders may not issue a loan on such a home.
It varies from the lender to lender. Santander has different instructions for example to Nationwide. Should you wish to call us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Isle of Sheppey. Conveyancing will be smoother if you use a solicitor in Isle of Sheppey especially if they are accustomed to such properties in Isle of Sheppey.
In sourcing the internet for the words cheap conveyancing in Isle of Sheppey it shows results of numerous conveyancersin the vicinity. With so much choice what is the best way to find the right solicitor for purchase transaction?
The preferential method of finding a suitable conveyancer is through a personal recommendation, so enquire of colleagues and family who have bought a property in Isle of Sheppey or the local estate agent or mortgage broker. Fees for conveyancing in Isle of Sheppey vary, so it's a good idea to obtain at least four costs illustrations from different solicitors. Be sure to seek confirmation that the costs are guaranteed not to to be inflated.