The St Luke's conveyancing firm handling our St Luke's conveyancing has spotted an inconsistency between the assumptions in the home valuation report and what is revealed within the legal papers for the property. My lawyer has advised that he is duty bound to ensure that the bank is happy with this discrepancy and is still content to lend. Is my solicitor’s course or action legitimate?
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 you.
I have recentlydiscovered that Stirling Law have closed. They carried out my conveyancing in St Luke's for a purchase of a freehold house 9 months ago. How can I check that the property is in my name in the name of the former proprietor?
The quickest method to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of St Luke's conveyancing specialists.
I'm buying my first flat in St Luke's with a loan from Bank of Scotland. The developers refused to budge the amount so I negotiated 6k of extras instead. The property agent advised me not reveal to my lawyer about this extras as it could put at risk my mortgage with Bank of Scotland. Is this normal?.
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.
I've recently found out that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. St Luke's is the location of the property. Is there any advice you can give?
Flying freeholds in St Luke's are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside St Luke's you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in St Luke's may ascertain 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.
In surfing the world wide web for the words conveyancing in St Luke's it reveals many property lawyersin the vicinity. With so much choice what is the best way to find the right conveyancing solicitor for me?
The best method of seeking a suitable conveyancer is via personal testimonial, so enquire of friends and those you trust who have acquired a property in St Luke's or the reputable estate agent or financial adviser. Fees for conveyancing in St Luke's vary, so it's advisable to secure at least three costs illustrations from varying types of solicitors. Dont forget to clarify what costs in the quote includes.
My wife is purchasing a leasehold flat in St Luke's. Conveyancing estimates are averaging around £1800. Does that seem right?
The average cost last year for conveyancing in St Luke's was just under one thousand five hundred pounds excluding SDLT and HM Land Registry charges.