Our Millom conveyancer has identified a difference between the assumptions in the valuation survey and what is revealed within the title deeds. My solicitor says that he must check that the lender is OK 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 requirements 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.
In looking at consumer advice sites for an online solicitor in Millom, most advise that I should look for a CQS kitemarked lawyer. What is CQS?
Millom Conveyancing Quality Scheme solicitors have been granted certification by the law Society CQS was established to establish evidence of quality standards in the home legal process. CQS enables house movers to identify practices that provide a quality residential conveyancing. Millom is one of locations in England and Wales in which accredited firms are based. The scheme requires practices to undergo a strict assessment, compulsory training, self-certification, spot checks and yearly assessments in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Association of British Insurers.
How does conveyancing in Millom differ for newly converted properties?
Most buyers of new build or newly converted property in Millom approach us having been asked by the seller to sign contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Millom typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Millom or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Millom is where the house is located. Can you shed any light on this issue?
Flying freeholds in Millom are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Millom 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 Millom 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 property.
How do I use your search facility to get a quote from a conveyancing lawyer in Millom on the approved list for my bank?
First select a mortgage company such as Birmingham Midshires, Coventry Building Society or Godiva Mortgages Ltd then choose your location e.g. Millom. Conveyancing organisations in Millom and across England and Wales should be listed.
I need to appoint a conveyancing solicitor for sale conveyancing in Millom. I happened to chance upon a web site which looks to be the ideal solution If it is possible to get all this stuff done via phone that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?