I have just been advised by my financial adviser that my Little Hampton property lawyer is not on the bank Solicitor panel. How can I check?
The first thing you need to do is to contact your Little Hampton lawyer directly. You lawyer should notify you of the situation. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
The Little Hampton conveyancing firm handling our Little Hampton conveyancing has discovered a discrepancy when comparing the assumptions in the home valuation report and what is in the conveyancing documents. My solicitor informs me that he is obliged to check that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s approach legitimate?
Your conveyancer 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.
Do I need to visit the offices of the solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Little Hampton so that I can pop in to their offices if necessary.
These days approved lawyers for banks undertake the vast majority of communications via Royal Mail, e-mail or over phone calls. This means that they can undertake the legal work for your home move no matter where you live in the country. Nevertheless you can see if you can still book an appointment to visit conveyancing lawyer if just in case this is required.
I am buying a end of terrace house in Little Hampton. The intention is to an extension at the rear at the house.Will legal due diligence on the property include checks to see if these alterations were previously refused?
Your solicitor will review the deeds as conveyancing in Little Hampton will sometimes identify restrictions in the title deeds which prevent categories of works or need the consent of another owner. Many works require local authority planning permissions and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these things with a surveyor before you commit yourself to a purchase.
When it comes to mortgage companies such as Lloyds, do Little Hampton solicitors have to pay a yearly amount to be on the list of approved solicitors?
We are not aware of any lender fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
is it true that all Little Hampton solicitor practices on the TSB conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the TSB approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Some banks do allow licenced conveyancers on their panel in which case such firms would be governed by the Council of Licensed Conveyancers.
I am buying my first flat in Little Hampton with a loan from Alliance & Leicester . The sellers would not move on the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not inform my conveyancer about the side-deal as it will put at risk my loan with Alliance & Leicester . Do I keep my lawyer in the dark?.
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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Little Hampton is where the house is located. Can you shed any light on this issue?
Flying freeholds in Little Hampton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Little Hampton you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Little Hampton may decide 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.