My Ringwood conveyancer has identified a discrepancy when comparing the information in the home valuation survey and what is in the legal papers for the property. My solicitor has advised that he is obliged to check that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s course or action right?
Your solicitor must comply with the UK Finance Lenders’ Handbook conditions 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.
Do conveyancers ask for money on account for my conveyancing in Ringwood?
If you are buying a property in Ringwood your solicitor will request that you place them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any down payment is payable against the sale price then this will be needed immediately in advance of contracts are exchanged. Any further balance that is needed will be payable a few days ahead of the day of completion.
What is the optimum way to find out if the solicitor conducting my conveyancing in Ringwood is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Barclays Direct thus paying £192.00 in another set of legal fees.
You should take advantage of the search tool on this web page. Pick the mortgage company and type ‘Ringwood’ or your location and you will be presented with numerous solicitors offices in Ringwood or by proximity to you.
Have just purchased a repossessed house at auction in Ringwood. Conveyancing is needed. What are my next steps?
Given that you have now legally bound yourself to purchase you will need to retain a conveyancing lawyer soon as you are facing a fast approaching a drop dead date to complete the conveyancing. All auction property will have a corresponding auction set of papers. This will likely include most,if not all of the paperwork that your solicitor will need. In the case of leasehold property the conveyancing papers may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to a leasehold property. You should pass this on to the lawyer working for you ASAP. You also need to ensure that your finances are organised to complete the transaction on the set completion date.
Completion of my remortgage has taken place for my property in Ringwood. Conveyancing was satisfactory but I would like to complain about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I was told two weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Ringwood is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have been told that property searches are the primary reason for delay in Ringwood conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays in the conveyancing process. Searches are not likely to be the root cause of holding up conveyancing in Ringwood.
four months have elapsed since my purchase conveyancing in Ringwood concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. 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 property 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.