My Silsoe lawyer has identified an inconsistency when comparing the surveyor’s assumptions in the valuation report and what is in the legal papers for the property. My lawyer says that he needs to ensure that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s approach correct?
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 you.
In what way does my ID and proof of funds have anything to do with my conveyancing in Silsoe? Why is this being asked of me?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with prior to agreeing to accepting their conveyancing business. The Client Care letter that you need to sign should stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. If you are unwilling to hand over ID verification documents, your conveyancer will not be able to take you on as a client.
We hope to to buy with Loughborough BS. We have called around locally yet am unable to find a Silsoe conveyancing firm on the Loughborough BS approved list. Can you assist?
Please do make the most of the find a lender approved solicitor tool on this web page. Please choose the building society and type Silsoe or your location and you will be presented with a number of lawyer offices in Silsoe or nearest you.
It has been five months following my purchase conveyancing in Silsoe completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £180,000. 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 residence 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've recently found out that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Silsoe is where the house is located. Can you shed any light on this issue?
Flying freeholds in Silsoe are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Silsoe you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Silsoe may decide 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.