My Peterborough lawyer has uncovered a difference between the surveyor’s assumptions in the valuation survey and what is revealed within the conveyancing documents. My solicitor says that he must check that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach appropriate?
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.
We are planning to acquire a property and need a conveyancing solicitor in Peterborough who is on the Barclays solicitor panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Barclays . We don't recommend any particular firms conducting conveyancing in Peterborough.
3 months have elapsed since my purchase conveyancing in Peterborough completed. I have checked the Land Registry site which shows that I paid £200,000 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 residence 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.
I'm buying my first flat in Peterborough with a loan from Leeds Building Society. The sellers would not move on the price so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not to tell my lawyer about this side-deal as it could jeopardize my mortgage with the bank. 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.
We're first time buyers - agreed a price, but the estate agent told us that the vendor will only go ahead if we appoint the agent's chosen solicitors as they need a ‘quick sale’. My instinct tells me that we should use a local conveyancer who is familiar with conveyancing in Peterborough
We suspect that the seller is not behind this ultimatum. If they desire ‘a quick sale', turning down a genuine buyer is going to damage their objectives. Bypass the agents and go straight to the owners and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you are going to use your own,trusted Peterborough conveyancing firm - not the ones that will provide their negotiator at the agency a referral fee or meet his conveyancing thresholds pre-set by head office.
I have just started marketing my ground floor apartment in Peterborough. Conveyancing lawyers have not yet been instructed, but I have recently had a quarterly service charge invoice – Do I pay up?
It best that you clear the service charge as you normally would because all rents and service payments will be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Peterborough Leasehold Conveyancing - A selection of Questions you should consider Prior to buying
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Does the lease include onerous restrictions? How is the lease structured? It would be a good idea to enquire if there is anything that is prohibited in the lease. For example some leases prohibit pets being allowed in in a block in Peterborough. If you love the flatin Peterborough but your dog is not allowed to move with you then you will be faced hard determination.