My Stamford Bridge lawyer has uncovered an inconsistency between the information in the home valuation report and what is in the legal papers for the property. My lawyer informs me that he is duty bound to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my lawyer’s course or action legitimate?
Your conveyancer 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 am the only beneficiary of my late father’s will and I have everything in my name now, including the house in Stamford Bridge. Conveyancing formalities meant that the Land Registry date was in March. I want to move. I do know about the CML 6 month 'rule', which means that my property ownership will be treated the same way as if I'd bought the property in March. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. Some banks would take a sensible view as this clause primarily exists to pick up on subsales or the quick reselling of property.
My offer was accepted on a house in Stamford Bridge on 14/3/2024, valuation was booked 3 days later, all came back fine. Conveyancer instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Nationwide and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Nationwide conveyancing panel. Are Nationwide entitled to hold back the Mortgage pending the lawyer being on the approved list?
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 Nationwide to deal with your lawyer's application to be on the Nationwide conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have finally had an offer on a flat in Stamford Bridge accepted, but there is a chain. The vendors have offered on a property, however it’s not been accepted yet, and are looking at other properties booked. I have selected a local conveyancing solicitor in Stamford Bridge. What do I do now? At what point should I apply for the mortgage with Barclays?
It is usual to have concerns where there is a chain as you are unlikely to want to incur costs too early (mortgage application is in the region of £1k, then valuation, Stamford Bridge conveyancing search fees, etc). The first course of action is to ensure that your conveyancing practitioner is on the Barclays approved list. Concerning the subsequent phase this very much dictated by the uniqueness of your case, desire for the property and on the state of the market. During a rising market many buyers would apply for the mortgage with Barclays and pay for the valuation and only if it was satisfactory would they pay their property lawyer to proceed with searches.
I have recentlybeen informed that Action Conveyancing have been shut down. They carried out my conveyancing in Stamford Bridge for a purchase of a leasehold apartment 9 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?
The quickest method to check if the premises 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 Stamford Bridge conveyancing specialists.
I am purchasing my first flat in Stamford Bridge benefiting from help to buy. The developers refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not disclose to my lawyer about this side-deal as it may impact my mortgage with the bank. Should I keep quiet?.
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 have been pointed in your direction by a number of property agents in Stamford Bridge to find a conveyancer on your site. Is there a financial inducement for Estate Agents to promote your services over a competitor’s?
We refuse to give any commission for pointing buyers and sellers in our direction. We thought it would be too underhand a fee as members of the public would think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
How much experience do your Stamford Bridge conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Stamford Bridge conveyancing lawyers help thousands of buyers move home every year and supported plenty of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Stamford Bridge conveyancers have worked on recent similar matters.