Our Winterbourne lawyer has uncovered a difference between the assumptions in the home valuation survey and what is in the legal papers for the property. My lawyer has advised that he is obliged to check that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s stance legitimate?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions 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.
Do lawyers ask for an advanced payment for conveyancing in Winterbourne?
Where you are retaining lawyers for conveyancing in Winterbourne your solicitor will request that you to provide them with monies to cover the the cost of the conveyancing searches. Normally this is called for to cover the fees of the conveyancing searches. If any down payment is as part of the total price then this will be needed immediately before contracts are exchanged. The final balance that is due should be sent to your lawyer a couple of days prior to the day of completion.
My bid for a property was accepted at auction in Winterbourne. Conveyancing is necessary. What happens now?
Now that you are legally committed yourself to purchase you should find a conveyancing practitioner soon as you now have a tight a drop dead date to complete the deal. Every auction property will have a corresponding auction set of papers. This will include evidence of title and search results. If you have purchased leasehold property the auction papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You should give this to the lawyer instructed by you ASAP. Do make sure that that you have the requisite funding in place to complete on the on the contractual date .
My conveyancer has informed me that missing deeds insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Winterbourne?
The right level of missing deeds indemnity insurance should be dictated by who who your lender is. It would differ for example between HSBC Bank and Chelsea Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
I am purchasing a property in Winterbourne. One unusual aspect is that the roof has a solar panel. Lloyds have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Lloyds your lawyer must follow the conveyancing requirements contained in Part 2 of UK Finance Lenders’ Handbook for Lloyds. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Lloyds where a lease does not comply with these requirements. The specifications relate to the installation of panels on properties in England and Wales and is not restricted to Winterbourne.
3 months have elapsed since my purchase conveyancing in Winterbourne took place. I have checked the Land Registry website which shows that I paid £175,000 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 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.
I decided to have a survey carried out on a house in Winterbourne prior to instructing lawyers. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some lenders may refuse to give a mortgage on a flying freehold home.
It varies from the lender to lender. Lloyds has different requirements from Halifax. If you call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Winterbourne. Conveyancing may be slightly more expensive based on your lender's requirements.
I am selling my home. My past solicitors have shut. It would be helpful to have a recommendation of a conveyancing firm. Im based in Winterbourne if that makes a difference.
Do use our search tool to help you choose a solicitor for your conveyancing in Winterbourne. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.