Our Totteridge solicitor has uncovered a discrepancy between the information in the valuation report and what is revealed within the conveyancing documents. My solicitor informs me that he is obliged to ensure that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s stance legitimate?
Your property lawyer 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 both parties.
As I am unsure how the conveyancing process works what is the most important number one tip you can impart concerning purchase conveyancing in Totteridge?
Not many law firms or advisers will tell you this but conveyancing in Totteridge or throughout England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there is plenty of room for confrontation between you and others involved in the legal transfer of property. E.g., the seller, estate agent and sometimes the bank. Appointing a lawyer for your conveyancing in Totteridge an important selection as your conveyancer is your adviser, and is the SOLE party in the transaction whose role it is to act in your legal interests and to keep you safe.
Every so often a third party with a vested interest will try and sway you that you should follow their advice. For instance, the estate agent may claim to be assisting by suggesting your lawyer is wrong. Or your financial adviser may tell you to do take action that is against your lawyers guidance. You should always trust your lawyer above all other parties in the conveyancing process.
My uncle passed away six months ago and as sole heir and executor I was left the house in Totteridge. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Leeds Building Society, pay off the mortgage. Is this allowed?
Where you plan to re-mortgage then Leeds Building Society will require that you use a conveyancer on the Leeds Building Society conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Leeds Building Society conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Leeds Building Society mortgage is registered as a charge at the Land Registry.
I am purchasing a end of terrace house in Totteridge. We would like to convert the garage to an office at the property.Will the conveyancing process include investigations to determine if these alterations are permitted?
Your conveyancer will review the deeds as conveyancing in Totteridge will occasionally reveal restrictions in the title deeds which prohibit categories of changes or necessitated the permission of a 3rd party. Certain works call for local authority planning permissions and approval in accordance building regulations. Certain locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be wise to check these issues with a surveyor ahead of any purchase.
Are all Totteridge Conveyancing Quality Solicitors on the Coventry BS conveyancing panel?
Some major lenders now use the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their panels.
We had appointed solicitors locally in Totteridge on the Kent Reliance solicitor panel. They are now charging me a further charge for handling the Kent Reliance mortgage. Is this an additional conveyancing fee set by Kent Reliance?
Provided it is contained in their Terms and Conditions or Quote then yes your lawyer can charge a fee for this. The fee is not dictated by Kent Reliance but by your Totteridge property lawyer. Some firms on the Kent Reliance panel will quote an ‘acting for lender’ fee but many practices include it on their overall fee.
I'm converting the mortgage on my existing property to a BTL loan with Clydesdale and I will use the rest of the raised equity as a down payment on a second property. The area we are talking about is Totteridge. Will your lawyers be able to act for both sets of banks and tie in the transactions?
Do use our search tool on this site to check that the lawyers are approved by both banks. Having checked that they are your solicitor will be able to tie up the two transactions but you should have a chat with you lawyer and communicate your desired outcome and requirements.
I need to retain a conveyancing solicitor for residential conveyancing in Totteridge. I have stumble upon a site which looks to be the perfect solution If it is possible to get all formalities done via phone that would be ideal. Do I need to be concerned? What should out be looking out for?
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?